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Post by charliebrown on Feb 2, 2019 3:32:54 GMT
You might think that..... In "fairness" they wouldn't be the only ones. I see this all the time albeit in different industries That’s exactly what the FCA should prevent. It shouldn’t be possible for any Tom, Dick or Liam to set up a financial institution handling millions of pounds of people’s money without having any experience. It’s actually scary that this is possible. Would it be possible for me to buy a scalpel and set up Charlie Brown’s brain surgery clinic?
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adrianc
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Post by adrianc on Feb 2, 2019 9:12:55 GMT
You might think that..... In "fairness" they wouldn't be the only ones. I see this all the time albeit in different industries That’s exactly what the FCA should prevent. It shouldn’t be possible for any Tom, Dick or Liam to set up a financial institution handling millions of pounds of people’s money without having any experience. It’s actually scary that this is possible. Would it be possible for me to buy a scalpel and set up Charlie Brown’s brain surgery clinic? 'course, let's not forget there's clearly incompetent administrators out there, too... Another tentative thumbs-up for the updates, though, from me.
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Post by GSV3MIaC on Feb 2, 2019 16:18:22 GMT
You might think that..... In "fairness" they wouldn't be the only ones. I see this all the time albeit in different industries That’s exactly what the FCA should prevent. It shouldn’t be possible for any Tom, Dick or Liam to set up a financial institution handling millions of pounds of people’s money without having any experience. It’s actually scary that this is possible. Would it be possible for me to buy a scalpel and set up Charlie Brown’s brain surgery clinic?
Nope, I'm sure brain surgery is regulated by the physicians union .. now if you called it 'cosmetic surgery', or 'financial scalping', no problem ...
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adrianc
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Post by adrianc on Feb 3, 2019 9:08:04 GMT
That’s exactly what the FCA should prevent. It shouldn’t be possible for any Tom, Dick or Liam to set up a financial institution handling millions of pounds of people’s money without having any experience. It’s actually scary that this is possible. Would it be possible for me to buy a scalpel and set up Charlie Brown’s brain surgery clinic? Nope, I'm sure brain surgery is regulated by the physicians union .. now if you called it 'cosmetic surgery', or 'financial scalping', no problem ...
I'm not sure there's a lot of difference for the average recipient of a boob job.
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Godanubis
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Post by Godanubis on Feb 3, 2019 11:12:31 GMT
That’s exactly what the FCA should prevent. It shouldn’t be possible for any Tom, Dick or Liam to set up a financial institution handling millions of pounds of people’s money without having any experience. It’s actually scary that this is possible. Would it be possible for me to buy a scalpel and set up Charlie Brown’s brain surgery clinic?
Nope, I'm sure brain surgery is regulated by the physicians union .. now if you called it 'cosmetic surgery', or 'financial scalping', no problem ...
Well Charlie you better look elsewhere for your clients. According to some on here those who invest in P2P are brainless 
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Post by p2plender on Feb 3, 2019 12:07:30 GMT
p2p investors aren't brainless, just those that choose to carry on throwing money into this farce.
Personally into 6 figs worth of interest over the last 10yrs via p2p, a fine alternative to what the banks could have offered. As Charlie states, one has to be careful with shysters setting up platforms in the hope of exploiting investors. Was always going to be one or two platforms to trip up investors, pretty much like the AIM market.
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Post by baronhardup on Feb 3, 2019 12:19:20 GMT
Have to say that I am a little more encouraged by the Feb 01 updates. They seem to be encouraging - although the quality of their marketing/pr guff far exceeds their past loan managing ability - so I maintain my scepticism. Perhaps replacing the incumbent appointed Administrators MIGHT mean that past performance is not a guide to future results - God willing!!
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Godanubis
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Post by Godanubis on Feb 3, 2019 14:56:25 GMT
p2p investors aren't brainless, just those that choose to carry on throwing money into this farce. Personally into 6 figs worth of interest over the last 10yrs via p2p, a fine alternative to what the banks could have offered. As Charlie states, one has to be careful with shysters setting up platforms in the hope of exploiting investors. Was always going to be one or two platforms to trip up investors, pretty much like the AIM market. We with high 5 figures of interest annually in P2P and similar in S&S over last few years. This year has changed. Stiil getting high 5 figures in P2P but only low 5 figures in S&S . Please tell us all who are the platforms that were demonstratably proven to have been set up to exploit investors ? I suspect they are the fictitious urban myth platforms. There may be platforms that don’t perform as expected. As much as we may think this was planned for at inception there is little or no evidence of malfeasance. Poor management and operation is not the same.
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Godanubis
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Post by Godanubis on Feb 3, 2019 14:58:52 GMT
Have to say that I am a little more encouraged by the Feb 01 updates. They seem to be encouraging - although the quality of their marketing/pr guff far exceeds their past loan managing ability - so I maintain my scepticism. Perhaps replacing the incumbent appointed Administrators MIGHT mean that past performance is not a guide to future results - God willing!! A thoughtful open minded and justifiable point of view. p.s I am willing to go along with your analysis.
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Post by p2plender on Feb 3, 2019 22:54:09 GMT
" As much as we may think this was planned for at inception there is little or no evidence of malfeasance. Poor management and operation is not the same."
I'm sure it will all come out in the wash. Many of the original valuations bare little to no resemblance of what stuff is now being valued at default. The odd one being a tad wrong perhaps acceptable but so many being worth a fraction of what was projected... Hmmm, hence why I'd like to see some investigative action.
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Post by charliebrown on Feb 4, 2019 2:17:31 GMT
" As much as we may think this was planned for at inception there is little or no evidence of malfeasance. Poor management and operation is not the same."I'm sure it will all come out in the wash. Many of the original valuations bare little to no resemblance of what stuff is now being valued at default. The odd one being a tad wrong perhaps acceptable but so many being worth a fraction of what was projected... Hmmm, hence why I'd like to see some investigative action. I’d like to see the “forensic investigation” that has been mentioned on some loan updates extended across the full loan lifecycle. Who brought the loan to the platform and were they heavily incentivised? Which LY salesperson got the loan live/ filled and were they heavily incentivised? Who did the valuation and were they heavily incentivised? Who was monitoring the loans and were they heavily incentivised to keep one eye closed? Who was issuing more loans to the same borrower when said borrower wasn’t inside T&C on his other loans and were they heavily incentivised to keep one eye closed? Let’s just put it this way, everyone involved has made money from this scam apart from most investors. Is that an unlucky coincidence?
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pom
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Post by pom on Feb 4, 2019 11:19:53 GMT
Please tell us all who are the platforms that were demonstratably proven to have been set up to exploit investors ? I suspect they are the fictitious urban myth platforms. There are plenty out there that are outright scams and more that perhaps might charitably be described as merely highly misleading, but for obvious reasons they don't get promoted here, as fortunately they're usually too obvious for the typical forum members investment experience.
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Godanubis
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Post by Godanubis on Feb 4, 2019 16:58:39 GMT
Please tell us all who are the platforms that were demonstratably proven to have been set up to exploit investors ? I suspect they are the fictitious urban myth platforms. There are plenty out there that are outright scams and more that perhaps might charitably be described as merely highly misleading, but for obvious reasons they don't get promoted here, as fortunately they're usually too obvious for the typical forum members investment experience. And so is the Easter Bunny,Santa Clause, and unicorns 🦄 . Name just one that’s all just one. .?
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bugs4me
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Post by bugs4me on Feb 4, 2019 22:42:13 GMT
There are plenty out there that are outright scams and more that perhaps might charitably be described as merely highly misleading, but for obvious reasons they don't get promoted here, as fortunately they're usually too obvious for the typical forum members investment experience. And so is the Easter Bunny,Santa Clause, and unicorns 🦄 . Name just one that’s all just one. .? May I request you cease being so confrontational towards fellow posters.
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Godanubis
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Post by Godanubis on Feb 4, 2019 22:49:09 GMT
And so is the Easter Bunny,Santa Clause, and unicorns 🦄 . Name just one that’s all just one. .? May I request you cease being so confrontational towards fellow posters. For all others please note the lack of a verifiable answer to my question. I will make no more calculated assertions to the validity of what is said purporting to be fact. I’ll leave that to you to decide. I have provided my proof of what I have said.
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