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Roundup of Social Lending News – September 8, 2012

by Peter Renton on September 8, 2012

Every Saturday I bring you the latest news from the world of peer to peer lending. These are the best of the news articles and blog posts from around the web that I shared on Twitter this past week.

News was sparse in this holiday shortened week, you should be able to read all five articles below in just a few minutes. This weekend I am at the Financial Bloggers Conference, known as Fincon12, which is in Denver this year just three miles from my house. Very convenient. Over 400 financial geeks like myself are learning, sharing and having a good time. I will be sharing the short presentation I did here next week. Enjoy your weekend.

Quora - P2P Lending: As the P2P space continues to grow, how can new entrants differentiate themselves from incumbents such as Lending Club and Prosper?

Pinch That Penny - Lending Club Update – September 2012

Lending Club (press release) - Former E*TRADE General Counsel Joins Lending Club

Random Thoughts - Mrs. RT: Avoiding Early Pay-offs at Lending Club


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{ 10 comments… read them below or add one }

Brian September 9, 2012 at 6:53 pm

that Mrs RT article is awful. She uses statistics to show that of loans that pay off early, a high percentage are low loan size and good credit rating, and concludes that she should avoid low loan sizes and good credit ratings.

This is of course extremely flawed. A->B does not mean that B->A. If she had checked, she would have seen that the 87.7% of early loans that were <$20k is completely consistent with the 87.3% of all loans that are for less than $20k.


Peter Renton September 10, 2012 at 7:22 am

Brian, I didn’t agree with the conclusions either and inclusion in this list in no way means I endorse the article. I cover the industry and news from bloggers and media sources. It is sometimes useful to look at articles and realize the flawed thinking of other investors.


Dan B September 10, 2012 at 2:17 pm

But you state in the opening line that “These are the best of the news articles and blog posts from around the web…………..”. So if you’re not endorsing the article & if you think that the conclusions are incorrect then why would you say that they are the “best”? Best in what sense? Don’t you think that some of your less enlightened readers may infer that your inclusion of an article as part of your weekly “best”, would imply that you endorse &/or agree with its contents?


Peter Renton September 10, 2012 at 3:07 pm

I mean best as in what I think will be most interesting for readers. You may recall the article from the previous week that I included even though it was poorly written with some factual errors. I would never endorse such an article but I included it in my roundup anyway as I did for this article.

My goal here is to filter out the noise each week and present articles that people will find interesting, good or bad. It is obviously a judgment call what makes the list and sometimes you and others will disagree with an inclusion and that’s fine.


Dan B September 10, 2012 at 3:28 pm

I don’t read all the articles so I don’t know what you’re referring to. But I’m not arguing whether you should or shouldn’t include any particular article. I’m suggesting that if these are not the “best” articles then you shouldn’t say that they are,………….. just because you think they’re interesting. Perhaps it’d more appropriate to say that these are the articles you found most interesting & that the inclusion doesn’t reflect your endorsement. That’s all.

Peter Renton September 10, 2012 at 3:33 pm

Dan, Well you really are picky….but I guess I knew that already.


Dan B September 10, 2012 at 4:05 pm

Hey, you should thank me. I’m trying to protect the integrity of your blog. After all this is the leading directp2p investing blog in the country. Some people who come here may not have the time to scour the net & read every single article. They may actually take what you say seriously, & believe that when you say “best” it actually means best………… opposed to “interesting”.
Now if being “accurate” when commenting on a financial blog is considered being picky, then that’s pretty sad…………….not to mention a bit scary as well.


Peter Renton September 10, 2012 at 5:07 pm

You are right of course. Part of me thinks who gives a damn whether I say “best” or “interesting” because after all best is a subjective thing in this instance. But I have to remind myself that this is a financial blog where people are making decisions with their own money and I need to be careful.


Dan B September 10, 2012 at 5:39 pm

You’re welcome! :)


Charlie H September 10, 2012 at 7:58 pm

Well why “we” might some of these articles funny from time to time… You might want to be more clear on what you think of each article.

My personal pet peeve is a lendingclub note being compared to a bank CD.


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