I saw this posted over at Slashdot. There doesn't seem to have been a discussion over here about this type of thing. Offhand it seems high risk. Has anyone toyed with these?
www.zopa.com
http://en.wikipedia.org/wiki/Zopa.com
www.prosper.com
http://en.wikipedia.org/wiki/Prosper_(web_site)
They are described as "eBay for finance" or "eBay for loans" where individual lenders are matched up with individual borrowers. I'm sure lots of regulatory questions are popping into your head now, but I'll skip the details as I'm sketchy on them myself and really am mainly trying to find out if anyone here has delved into this type of thing.
I'm more intruiged to be a lender, but offhand I have difficulty imagining that they can provide collection services and manage to keep the returns decent enough to offset the extra risk as opposed to a MM fund or ING Direct or Emigrant Direct.
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