"Lendy in talks about selling loan book" -FT

I do wonder if the new Copious Capital company set up could be behind this somehow? 

Obviously I couldn't see them building up a warchest any other way by partnering with other organisations or perhaps using the PF to get a RCF with Metro Bank..... but they then could buy out loan holders at low rates - ie 50% and only for certain loans. 

First world problems, eh?

The comment I recall was towards the end of one of the deleted posts about the court case.

I agree.

My late grandmother was a communist (hear me out!). Forty years ago, she always used to tell me that the only newspapers that told the truth were the Morning Star and the FT. I'm sure most would disagree about the former (even though they possibly haven't read it). Until relatively recently I would have broadly agreed with her about the FT. Sadly, since Brexit, that paper has in my view taken a very short term view and has become quite opinionated on the subject. It is a shame.

It would surely depend on what type of haircut. 
If the loans are going to be classified like bad debts and sold on for 10p in the pound I would rather make Lendy fulfil their duties and enforce the security.

Most things Lendy have done have not been for the benefit of investors, so when they come along and claim that investors can choose an exit it'll be obvious that the only circumstances this will be in where the investor is getting the raw end of the deal.

The sad thing is I can see there being enough investors who have over-committed and want some money back at any cost to be desperate enough to take the crappiest of offers up. It'll be like a thief but presented as a white knight, because Lendy can control sentiment and information flow on the loans. 

If there is to be a 'rescue' of this sort I would want to be entirely sure that the setup is such that Lendy cannot abuse its position, but I think they are compromised because of the Wealth product.