jaswells
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Post by jaswells on Oct 28, 2017 8:07:49 GMT
A clear advantage of these smaller loans is that even when the asset proves overvalued, FS are often able to afford to partially take the hit. This is not the case with large scale development projects which run into the 100's of thousands. Trouble is getting a slice of the smaller loans is a tricky business.
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r1200gs
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Post by r1200gs on Oct 28, 2017 8:17:26 GMT
A clear advantage of these smaller loans is that even when the asset proves overvalued, FS are often able to afford to partially take the hit. This is not the case with large scale development projects which run into the 100's of thousands. Trouble is getting a slice of the smaller loans is a tricky business. Yes indeed, it's pretty easy for FS to keep investors sweet with a little loan like this, and nice of them to do so when they are not really at fault as far as I can see. The test is when lenders are out hundreds of thousands and FS clearly are at fault for misleading lenders. That test has yet to come.
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kaya
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Post by kaya on Oct 31, 2017 19:26:56 GMT
Not at fault? The 'valuation' of a 'much sought after' domain name (or wording to that effect) was clearly misleading. It was therefore entirely appropriate that lenders money should be refunded. Perhaps they should have paid the interest too. (guess I should be grateful to get the principal back. And I am, so thank you for meeting your responsibilities fundingsecure) |
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r1200gs
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Post by r1200gs on Nov 1, 2017 10:10:08 GMT
Not at fault? The 'valuation' of a 'much sought after' domain name (or wording to that effect) was clearly misleading. It was therefore entirely appropriate that lenders money should be refunded. Perhaps they should have paid the interest too. (guess I should be grateful to get the principal back. And I am, so thank you for meeting your responsibilities fundingsecure )
Presuming that these estimates came from an industry professional, then no, FS were not at fault in my opinion.
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Post by bluechip on Nov 5, 2017 8:34:17 GMT
They are at fault as they are the platform we invested in based on the information they provided - it's irrelevant how/where they got their information from as far as we are concerned because we are not made privy to where that information was sourced - nor did we carry out due diligence on where that info was sourced.
Using your line of thought, let's say a supposed expert provided wrong information, they could then say it was their training that was wrong, so then we go to the person/institution that trained them, they can then say their source material was wrong, etc etc, it never ends - it's the price of doing business. The whole point of a platform sitting in the middle taking their cut, is that they provide accurate information in my mind.
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r1200gs
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Post by r1200gs on Nov 5, 2017 10:27:44 GMT
They are at fault as they are the platform we invested in based on the information they provided - it's irrelevant how/where they got their information from as far as we are concerned because we are not made privy to where that information was sourced - nor did we carry out due diligence on where that info was sourced. Using your line of thought, let's say a supposed expert provided wrong information, they could then say it was their training that was wrong, so then we go to the person/institution that trained them, they can then say their source material was wrong, etc etc, it never ends - it's the price of doing business. The whole point of a platform sitting in the middle taking their cut, is that they provide accurate information in my mind. Sounds great. I hope you have your lawyer on standby if you ever face a capital loss. FS will certainly have one.
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Post by bluechip on Nov 5, 2017 14:16:30 GMT
I'm not talking about the law. I'm talking about blame - we were provided with inaccurate information, the blame is with the provider of that information to us. Obviously FS will blame the person that gave them that information. From our perspective FS are at fault, but we wouldn't have a leg to stand on and nobody should take such an intangible thing as "Domain Names" as anything other than an educated guess. It was a bad guess, funny how it rarely goes the other way.
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mikes1531
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Post by mikes1531 on Nov 5, 2017 14:51:03 GMT
It was a bad guess, funny how it rarely goes the other way. : That's because valuers are an optimistic lot!
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