Commuter Club capital raise

We are also great fans - good professional and capable management team. They've even been profiled in Wired magazine which gets a big tick for me, something even RateSetter haven't managed.

In relation to RateSetter loans, the Provision Fund and yesterdays publication of the entire loan book, the collateral point is a good one. This will appear to the casual observer as unsecured lending where in reality any potential losses can be minimised quickly and easily. But we obviously cannot go into the commercial and security details of all the loans we write with partners, for competitive reasons if nothing else.

Basically what I'm saying is the portfolio is more robust that it appears to the ignorant eye just running pivots.

Kevin.