adrianc
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Post by adrianc on Dec 6, 2018 18:02:05 GMT
A cynical thought... Do you think the combination of timings was absolutely deliberate?
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picnicman
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Post by picnicman on Dec 6, 2018 19:14:44 GMT
A cynical thought... Do you think the combination of timings was absolutely deliberate? - tut tut   an early christmas bonus (and better than expected re last update) and the start of a few more one hopes! Cheers P
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Post by Proptechfish on Dec 6, 2018 19:25:49 GMT
A cynical thought... Do you think the combination of timings was absolutely deliberate? My thoughts exactly, an attempt to to stall an mass exodus of repaid funds. For me, I've still withdrawn in full
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Mr_N
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Post by Mr_N on Dec 6, 2018 19:30:52 GMT
I'm kind of a bit staggered that an organisation would actually write that. It is essentially an admission of serious leadership and management failure. Its one thing for people to think it, but its quite another for the target organisation to say it. Reads to me like they might have been forced to send it by the FCA.
No financial business would highlight the fact compliance needs improving without being forced to do so.
Your welcome.
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Post by Deleted on Dec 6, 2018 21:50:22 GMT
I don't usually see myself as the cynical type but maybe Lendy just have a way of finding it within me .... I really find myself agreeing with adrianc on the timing of this. Lendy and Liam have never been the apologising types but what they are is calculating in their own best interest. Suddenly siding with the disgruntled forumites and trustpilot reviewers as 3.5million is paid back to them can't be seen as a coincidence, rather the answer to the question "how do we possibly keep as much of this repayment on our platform as possible?" in the Lendy boardroom. |
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Post by loftankerman on Dec 6, 2018 23:20:36 GMT
A nicely contrived performance, as we are now in the pantomime season and happily suspend disbelief. Let's see how many more repayments they have up their sleeves and will present with a flourish.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Dec 7, 2018 0:38:49 GMT
Well email woke up all the people who are without sin. That started throwing stones. As with most flaws in character or business the first step to improving is to actually admit there is a problem.
Moaning about past errors does nothing to improve matters.
If anyone has constructive advice then pass it on. I,ve well over 100K in Lendy with little interest and very few repayments.
I also have no crystalysed losses . So overall a profit.
Todays stock market down more than 3% in a day and over 15% this year should focus everyone as to what happens outside P2P
Again I would imagine prudent investors in P2P will be making reasonable returns I certainly am.
So let’s give Lendy a helping hand and be their sponsor on their journey to salvation
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jonbvn
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Post by jonbvn on Dec 7, 2018 3:05:06 GMT
As long as they don't miss out on Cowes week, I am not sure what the problem is. Arrange these words into relevant sentences: p*ssup/brewery deckchairs/Titanic |
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Post by p2plender on Dec 7, 2018 4:06:48 GMT
No sympathy for Brookes. Don't forget, this is the company that held a vote for DFL04 then stuck two fingers up to investors and went against the vote. Hope he gets everything coming to him. Groveling apology about 12 months too late, though I see already a few taken in by it.
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Mr_N
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Post by Mr_N on Dec 7, 2018 8:04:27 GMT
The email is purely a result of mounting pressure to the escalating situation, specifically in response to regulatory intervention, and indeed posts created by investors in recent months here in which Lendy have a support account, but have stopped responding to concerns.
I see the email as nothing more than attempting to funnel concerns into a single and private email inbox and away from public view. Why not respond to concerns publicly here Mr Brooke? Why not explain in detail to alleviate jumping to the wrong conclusions?
Of course the regulators have informed Lendy of non-compliance.
As such I would suggest removing personally identifiable information from your emails to the "ask" email address, post the email here, then doing the same with the response. Lendy must understand that attempting to shift the discussion away from general view is not in anyone's interests as they have been doing from the outset, and they appear to be doing nothing more than the same here again.
What Mr Brooke, collectively referred to as Lendy can't seem to get his mind around is that full disclosure is a positive. When all parties understand the situation and see the action being taken they can then judge Lendy on the actions. Could this be why senior staff have walked out too? I wonder..
No one has anything to lose other than Lendy's ego being bruised, yet Lendy persists. Dancing around emails with bullet points and generic statements does not a good Director make, especially one who's actions are directly responsible for millions of pounds after happening upon a solution to fund the build of yachts. We know it, surely Lendy's employees know it too.
The entire outfit is tainted by Lendy's ego. It only serves to create further areas for uncertainty. It will be Lendy's, and our undoing. The entire culture of Lendy's collapsing house of cards is built around separating other people from pertinent information because Lendy feels disclosure will damage Lendy in some way.
I don't believe we're willing to wait around long enough for him to learn this lesson, at the expense of our capital being played with.
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Post by Deleted on Dec 7, 2018 8:26:08 GMT
I just dropped over to the Trust Pilot website and someone called Brooke has put the same email up... it is surrounded by some of the most critical comments, interesting that the comments are not from liam brooke (who probably is a different persona).
Trust pilot/Lendy page does seem to fall into the Hate and the "no defaults declared yet" various groupings but i suspect most of the hate on TP has been stimulated by Lendy trying to protect their reputation by constantly getting the hate messages getting taken down, this war certainly did Lendy no good.
Still, I'm pleased Brooke has put this email on the page, a second good step.
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Godanubis
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Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
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Post by Godanubis on Dec 7, 2018 8:38:12 GMT
No sympathy for Brookes. Don't forget, this is the company that held a vote for DFL04 then stuck two fingers up to investors and went against the vote. Hope he gets everything coming to him. Groveling apology about 12 months too late, though I see already a few taken in by it. A bit like Brexit then. It’s a huge company and you moan about 1 loan. Someone anyone show me a overall loss or shut up !,,
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Post by brightspark on Dec 7, 2018 9:32:10 GMT
All six of my small (remaining) fag end loans have been in trouble for months with no interest actually paid and with legal action by the borrower threatened concerning one loan. Ceasing to invest in Lendy until their house is in order is a sensible precaution. Lendy to get back into the market must convince lenders by word and deeds that tangible action is being taken on the overdue side and then offer some better loans at attractive margins - not rocket science! Then cease the practice of not paying interest on secondary market loans. Finally introduce secondary market variable pricing. The alternative is that Lendy remains unattractive as compared to other investment opportunities. The statement by the CEO simply makes a vague nod in the above direction without actually having done anything yet.
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bugs4me
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Post by bugs4me on Dec 7, 2018 9:51:58 GMT
No sympathy for Brookes. Don't forget, this is the company that held a vote for DFL04 then stuck two fingers up to investors and went against the vote. Hope he gets everything coming to him. Groveling apology about 12 months too late, though I see already a few taken in by it. A bit like Brexit then. It’s a huge company and you moan about 1 loan. Someone anyone show me a overall loss or shut up !,, It's not about one loan though is it. There are several loans where the company has consistently and continues to engage in 'can kicking' always of course promising jam tomorrow, or is it the 'free beer tomorrow' pub sign.
Folks tend to live in the real world and are not prepared to simply wait around indefinitely until LY decide to declare a loss which of course is not in their DNA whilst they promote the 'no investor has ever lost a penny' hogwash.
P2P investors expect losses here and there, that is the nature of the business. Unfortunately, or is it sadly, LY does not operate in the same world IMO.
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Godanubis
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Post by Godanubis on Dec 7, 2018 9:56:19 GMT
A bit like Brexit then. It’s a huge company and you moan about 1 loan. Someone anyone show me a overall loss or shut up !,, It's not about one loan though is it. There are several loans where the company has consistently and continues to engage in 'can kicking' always of course promising jam tomorrow, or is it the 'free beer tomorrow' pub sign.
Folks tend to live in the real world and are not prepared to simply wait around indefinitely until LY decide to declare a loss which of course is not in their DNA whilst they promote the 'no investor has ever lost a penny' hogwash.
P2P investors expect losses here and there, that is the nature of the business. Unfortunately, or is it sadly, LY does not operate in the same world IMO.
Then everyone can be happy count them all as 100% loss after 2years and move on. You should still make a profit overall if you have invested wisely.
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an early christmas bonus (and better than expected re last update) and the start of a few more one hopes! Cheers P
