|
|
Post by ruralres66 on Oct 14, 2016 8:37:42 GMT
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Oct 14, 2016 9:45:43 GMT
Very interesting. That's a subscription service. Would someone summarise please, without infringing copyright?
|
|
|
|
Post by jockstrap on Oct 14, 2016 9:48:34 GMT
Also on Forbes (no registration needed): www.forbes.com/sites/davidprosser/2016/10/12/lord-turners-p2p-u-turn-ex-regulator-thinks-platforms-will-boost-financial-stability-not-wreck-it"Lord Turner’s confession is that he had thought peer-to-peer lending platforms enabled anyone to turn up and ask for money, and, on the other side, anyone to take a punt on lending to these individuals. Having done a bit of research, he now realises this isn’t the model at all – because platforms do all sorts of sophisticated, data-driven credit risk analysis on borrowers and because most investors aren’t picking and choosing loans but buying into portfolios pre-selected by the platform to offer particular risk profiles." Well, who'd have thought it - a financial heavyweight advising the public, on things they haven't bothered to research... |
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,334 
Likes: 11,558
|
Post by ilmoro on Oct 14, 2016 10:01:19 GMT
Very interesting. That's a subscription service. Would someone summarise please, without infringing copyright? I can read it and not subscribed. Original FT piece google ft city grandee backtracks and shouldnt be paywalled
|
|
registerme
Member of DD Central
Posts: 6,624
Likes: 6,437
|
Post by registerme on Oct 14, 2016 10:23:30 GMT
I think the FT allow you two free articles a month (week?) before the paywall comes down.
|
|
|
|
Post by ruralres66 on Oct 14, 2016 10:58:14 GMT
By Ruth Gillbe
Former chairman of the Financial Services Authority Lord Adair Turner has u-turned on his stance that peer-to-peer lending will give rise to a mis-selling scandal.
In February this year, Lord Turner said that losses on P2P lending will “make the worst bankers look like absolute lending geniuses.”
However today (12 October) in an article in FTAdviser's parent paper the Financial Times, Lord Adair said: "I don't think the use of technology by peer-to-peer lenders or challenger banks will do anything fundamentally new..but they might be able to do credit underwriting as well as established banks and also aspire to offer better customer services."
Lord Adair also urged lenders to "keep it simple, keep it transparent" and said the £2.7bn industry will continue to grow if lenders avoided "giving the illusion of liquidity" to consumers.
Remainder redacted: MOD BB: reason: forum rule and copyright.
Please note the forum rule:
You may not post material here that infringes copyright. Posting material owned by others without their permission unless it's only a little of it to discuss what they wrote often infringes copyright.
|
|
JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
|
Post by JamesFrance on Oct 14, 2016 15:26:01 GMT
Quote from AltFi
Wouldn't you think that someone who has occupied a highly paid public sector position which means that people would take notice of what he says would have corrected the potentially damaging report before now!
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Oct 14, 2016 19:08:12 GMT
I think the FT allow you two free articles a month (week?) before the paywall comes down. It was one per day, not sure if it has changed. What is the term "transparency" they keep mentioning? 
|
|
