Saturday, January 3, 2009

more p2p lending

so, i just signed up on the trading platform that lending club offers. this allows you to trade debt. instead of being a lender, you turn into a trader and can buy and sell debt (at discounted rates) and thereby instantly monetize your investment.

2 comments:

Beth said...

Keep us informed how it goes. Would love to understand how this works. Do you have to lend before trading?

aggressive saver said...

beth,

the trading aspect doesn't make much sense to me. the folks that are selling notes appear to be pretty desperate for liquidity that they can turn them at close to break even.

and, who would be a buyer? unless you can get it for a severe discount, you can find loads of lendees on the lending site.