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TorontoCottage industry thrives on bypassing banksSubmitted by cahn on 19 July, 2009 - 4:15pm
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." »
What did I say then?Mack to leave Credit Suisse after merger rowSubmitted by cahn on 26 June, 2004 - 1:44amJohn Mack is leaving Credit Suisse Group next month after falling out with the board over whether the bank ought to pursue a merger. The unexpected management shake-up came following a board meeting in New York on Thursday. It is combined with a simplification of the way the bank's businesses are organised and shifts the balance of power back to Zurich. It also signals that the bank is prepared to abandon the bancassurance model it adopted when Lukas Muehlemann was chief executive. »
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