Is Bangladesh Trying to Take Over Grameen Bank? Very strange things are happening in Bangladesh these days. There seems to be a multi-pronged assault on Grameen Bank and on Muhammad Yunus, who won a Nobel Peace Prize for his role pioneering microfinance. Kimimasa Mayama/Bloomberg NewsMuhammad Yunus, Nobel Peace Prize winner and founder of Grameen Bank, a microfinance institution that has recently come under attack in Bangladesh. The Bangladeshi press has lately been full of denunciations of Yunus. On Tuesday, for example, one Bangladeshi news organization quoted an economist as saying of him: “A lot about him is just myth. [He] had never been selfless in any of his initiatives.” Meanwhile the Bangladeshi government has ordered a corruption investigation of Grameen after a Norwegian television documentary raised questions, even though the Norwegian government said there was nothing to the charges.
Look, Professor Yunus is no more above the law than anyone else. Let’s hope this is all a tempest in a teacup. An Open Letter to The Big Money: Retract Your Story. Today, The Big Money, an outlet we and many others respect, published a disappointingly inaccurate story about Prosper and the peer-to-peer lending industry. It’s unfortunate that the author’s data analysis and perspective relied almost entirely on a hodgepodge of anonymous sources. If higher reporting standards had been upheld, the reality that Prosper has shown great promise and performed well on a relative basis over the last three-years would have been self evident. We’ve requested that the editors at The Big Money retract Mark Gimein’s erroneous perspective on Prosper and the peer-to-peer lending industry. We look forward to their response. Mr. Mr. After quoting these cumulative loss results out of context, Mr.
Mr. Mr. The early results from the new rating system are excellent. Prosper was launched to the public in February of 2006 and was about 18 months old when the credit crisis turned our economy upside down. You Are Unlikely To Prosper | The Big Money. The HBR List 2009 - Forget Citibank - Borrow from Bob - Harvard. With consumer credit still tight, peer-to-peer lending is on the rise. Why? For one thing, human society naturally evolves to create pools of capital with which to fund ideas and absorb risk. Roman legionnaires insured one another by swearing to care for the families of comrades lost in battle. The creation of the shared stock corporation allowed for bigger and bigger risks to be taken. For another, peer-to-peer lending is cheaper than consumer credit. Why now? So what? If innovative legislation were drafted to allow peer-to-peer risk coverage, similar transactions might begin to flourish in the insurance market.
The current economic constraints will only accelerate the growth of these new entities. John Sviokla is the vice chairman and director of innovation and research at Diamond Management and Technology Consultants in Chicago. Return to the HBR List 2009 table of contents. Thoughts on p2p lending, risks and the future of the industry « In times of business renewal and especially following times of crisis it becomes easy to develop simple homely answers to problems. Mark Gimien falls into two traps, namely, coming up with a simple explanation that summarises a diverse set of peer-to-peer lending players, and that of a few simplistic anecdotes designed to explain a complex situation.
Person-to-person lending is much riskier than you’ve been told | The Big Money – Slate Her credit rating is not bad. But then you lean back in your chair and wonder, “Wait a second! It is hard to know where to begin when a coffee shop answer is provided to answer something that is potentially game changing. Evolution: what peer-to-peer lending is now, bears little resemblance to that which first sprouted roots in 2005governance: peer-to-peer lending now falls within the gamut of securities regulation, with the overviews, sophistication and some might argue dilution of the original model Summary: Like this: Like Loading...