oldgrumpy
Member of DD Central
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Post by oldgrumpy on Dec 18, 2016 17:45:03 GMT
I would have voted "bad", but decided not to.
As, in another discussion, SS took exception to me suggesting they were being devious by altering update texts rather than adding new information separately dated (thus hiding from investors what they had written before), "explaining" on this forum that it was a result of a new system being developed, and requesting us to report other incidences if we found them, it has been reported that SS continues to do this. I don't know which SS minion made that excuse, but I still consider that SS is being devious. I don't care what he thinks, but SS directors need to come to grips with the fact that SS is now perceived that way, and it behoves them to explain and then abandon the practice.
For that reason, I voted "appalling".
PS If the directors are (still?) hoping to sell the platform in 2017, I suggest they should do their utmost to have it perceived in a positive light. They might get a better price.
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dandy
Posts: 427
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Post by dandy on Dec 18, 2016 18:22:42 GMT
I would have voted "bad", but decided not to. As, in another discussion, SS took exception to me suggesting they were being devious by altering update texts rather than adding new information separately dated (thus hiding from investors what they had written before), "explaining" on this forum that it was a result of a new system being developed, and requesting us to report other incidences if we found them, it has been reported that SS continues to do this. I don't know which SS minion made that excuse, but I still consider that SS is being devious. I don't care what he thinks, but SS directors need to come to grips with the fact that SS is now perceived that way, and it behoves them to explain and then abandon the practice. For that reason, I voted "appalling". PS If the directors are (still?) hoping to sell the platform in 2017, I suggest they should do their utmost to have it perceived in a positive light. They might get a better price. Any details of this anywhere?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Dec 18, 2016 18:34:36 GMT
I would have voted "bad", but decided not to. As, in another discussion, SS took exception to me suggesting they were being devious by altering update texts rather than adding new information separately dated (thus hiding from investors what they had written before), "explaining" on this forum that it was a result of a new system being developed, and requesting us to report other incidences if we found them, it has been reported that SS continues to do this. I don't know which SS minion made that excuse, but I still consider that SS is being devious. I don't care what he thinks, but SS directors need to come to grips with the fact that SS is now perceived that way, and it behoves them to explain and then abandon the practice. For that reason, I voted "appalling". PS If the directors are (still?) hoping to sell the platform in 2017, I suggest they should do their utmost to have it perceived in a positive light. They might get a better price. Any details of this anywhere? There was a rumour floating about that there was an information pack sent out to potential investors (i.e. investors in the actual company, not us regular investors), sent sometime early this year. Not long after those rumours the following company popped up... SAVING STREAM BOND LIMITED
Note the only SH (100%) of the above company is ESCHER MARWICK PLC I'm not going to comment any further on the above subject
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dandy
Posts: 427
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Post by dandy on Dec 18, 2016 18:47:17 GMT
thanks @cooling_dude watch this space for a big announcement maybe. start a poll on likely valuations  |
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Liz
Member of DD Central
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Post by Liz on Dec 18, 2016 19:05:54 GMT
Any details of this anywhere? There was a rumour floating about that there was an information pack sent out to potential investors (i.e. investors in the actual company, not us regular investors), sent sometime early this year. Not long after those rumours the following company popped up... SAVING STREAM BOND LIMITED
Note the only SH (100%) of the above company is ESCHER MARWICK PLC I'm not going to comment any further on the above subject ISTR that a forum member found the information pack on a train.
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jonah
Member of DD Central
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Post by jonah on Dec 18, 2016 19:30:41 GMT
Liz I remember that pack... didn't know it was a saving stream pack though. 
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guff
Posts: 730
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Post by guff on Dec 18, 2016 19:59:12 GMT
I had assumed savingstream had been on to vote when I saw 1 vote for outstanding! Now 2 votes, you were right afterall. Taking a lead from SS, I fully expect CD to change the two offending options to f****** rubbish and absolute c***.
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ablender
Member of DD Central
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Post by ablender on Dec 18, 2016 20:09:14 GMT
Any details of this anywhere? There was a rumour floating about that there was an information pack sent out to potential investors (i.e. investors in the actual company, not us regular investors), sent sometime early this year. Not long after those rumours the following company popped up... SAVING STREAM BOND LIMITED
Note the only SH (100%) of the above company is ESCHER MARWICK PLC I'm not going to comment any further on the above subject This might explain the reason for introducing lower rates, rather than better loans. There are more mouths to feed.
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guff
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Post by guff on Dec 18, 2016 20:13:08 GMT
That was a hard poll to decide on, mind bendingly difficult  [/sarcasm mode off] Nice festive garb cooling_dude  
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twoheads
Member of DD Central
Programming
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Post by twoheads on Dec 18, 2016 20:19:03 GMT
savingstream ,
I have, in my terms, a significant sum invested in your platform. I'm sure most of your lenders would say the same.
The monetary value of my significant sum is not important. What is important is that each lender has their personal limits and will have a similar attachment to their investment irrespective of the actual amount.
We, the lenders, are liable for the majority of the risk and we will lose out if the security is insufficient to recover the invested capital in the case that a borrower defaults.
Do not forget: it is on the basis of our loans that Saving Stream makes its profit. I do not begrudge that profit; it is fair reward for the service provided.
However: it is a vital and seemingly forgotten part of that service with which many of us take issue: surely you must provide us with as much information as possible in order that we can make informed decisions to mitigate our risk as lenders.
Clearly, this communication is not happening.
Please never lose sight of the fact stated above: it is our money from which you derive your profit. Without us, there is no business: effectively, we are paying you.
Do you not think that we deserve the best possible information about our investments?
I respectfully suggest that your communications team start to deliver.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Dec 18, 2016 20:28:17 GMT
w.r.t. my post above, about eight posts above appeared during writing it (a slow process).
Initially I added this comment as an edit at the bottom. However I removed it a minute or so later because it looked stupid at the bottom of that post.
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Liz
Member of DD Central
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Post by Liz on Dec 18, 2016 22:53:39 GMT
<quote removed by Mod while we discuss it and investigate> Hi George, which p2p sites do you use instead of SS and think are a safe bet? I do think that all of the high yielding sites are very high risk. Next year could be the year of rising defaults. I do think that a lot of people lending via SS believe that the provision fund is a solid insurance policy and that the 11-12% is a near guarantee. Otherwise why would any rational person invest in a loan that is massively overdue or a loan in receivership?
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twoheads
Member of DD Central
Programming
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Post by twoheads on Dec 19, 2016 9:55:24 GMT
... and sometimes it seems like the more detail they provide, the more people complain. I think that almost all complaints are regarding the lack of information. More information would, I am sure, reduce the complaints.
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[/sarcasm mode off]
