My Buddy, the bank
Published in #nett magazine, 2008
The US sub-prime loan crisis was big news. Banks, notorious already for their profit-driven tactics, raised interest rates and refused to loan even to people with relatively solid credit ratings. Although peer-to-peer or social lending is only nascent, its long term ramifications are the same for the big banks as peer-to-peer file sharing has been for the record labels. If they don’t get in on the act themselves, they’ll fall by the wayside. more »
