E*Trade Financial
Cottage industry thrives on bypassing banks
Submitted by loner on 19 July, 2009 - 4:15pm- Alan Lysaght
- Asia
- banking
- Bel Air Investment Advisors LLC
- Bloomberg
- California
- Carol Kaplan
- Chris Larsen
- E*Trade Financial
- Ed Kountz
- Federal Reserve System
- Fitch Ratings
- Forrester Research
- http://www.scmp.com/portal/site/SCMP/menuitem.2af62ecb329d3d7733492d9253a0a0a0/?vgnextoid=9c85c5c5ebd82210VgnVCM100000360a0a0aRCRD&
- John Nester
- Ken Naehu
- LendingClub.com
- Los Angeles
- Microsoft
- P2P
- Peer-to-Peer
- Prosper.com
- Renaud Laplanche
- San Francisco
- Scott Langmack
- Toronto
- US Securities and Exchange Commission
- USD
Scott Langmack has given more than US$600,000 in unsecured loans to strangers.
"I can reliably get 12 per cent, worst case 9 per cent," said Mr Langmack, 50, a former Microsoft marketing executive who began investing in so-called peer-to-peer lending last year. "I can't find anything that gives me this kind of confidence."
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