From dhenwood at panix.com Mon Sep 13 08:15:34 1999
[ ... ]
"'We're already seeing a positive response from borrowers...,'
Rock claimed in an August 31 press release. Why would the
response be anything but?"
If you have to log on to get it, that's almost like buying a list of people who own computers -- pre-qualification, but cheap!
Wait until they start getting credit apps from prisoners ... :-)
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I'm not so sure this is bad. Why shouldn't individuals have the same kinds of access to capital that corporations have? Amazon has never made a penny, but they were able to sell $1B of convertable bonds. And for the lender: if your clients cover the cost of carry, the cost of any defaults, and produce a profit for your investors, why shouldn't you loan to just about anybody?
Did you get your $400k yet?
/jordan