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Person-to-person loans booming on the Internet
In the wake of the subprime mortgage meltdown, traditional financial institutions have tightened up on who gets to borrow money. But some people are still finding ways to borrow the money they need, thanks to another area of lending that is booming.
Person-to-person lending, or "social" lending, is growing at a phenomenal pace on the Internet as consumers look for an alternate way to pay off debt, according to new research by Javelin Strategy & Research. Javelin predicts that the demand for person-to-person lending services, or P2P, to pay off credit-card debt may grow from $38 billion to $159 billion over the next five years.
But while many people see opportunities to get cash that might not otherwise be available to them — and lenders see a way to deploy some of their extra cash — participants in this emerging form of lending should heed several caveats. More>>
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Liberals united in attack on PM's economic policy, divided on election ...
KITCHENER, ONT., MONTEBELLO, QUE. The Liberals and NDP launched heavy attacks on the Conservatives' handling of the economy as they moved to place the issue at the forefront of a potential election campaign - but Liberal MPs were split on whether recession fears should make them push for a spring vote or delay. Stock market carnage, job losses and recession fears have the opposition parties turning to the economy as a key political battlefield.
NDP Leader Jack Layton blamed Prime Minister Stephen Harper's economic policies for economic uncertainty, stagnant salaries and rising prices. Liberal Leader Stéphane Dion attacked Mr. Harper for not seeing the troubles coming and for being unwilling to take interventionist measures to aid industry.
But Liberal MPs gathered in Kitchener, Ont., were divided on whether they should try to defeat Mr. More>>
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Credit Is Three-Dimensional
Through a number of panics and contractions in the mortgage markets the "Genius" of the Emperor virtually created the New Deal in Old Rome, much as Roosevelt's "Brain Trust" created the New Deal in the US in the 1930s. It is ironical that the socialists who invented the New Deal were so ignorant of their own history that they didn't know that their counterparts had invented the same nonsense almost 2,000 years earlier. There is a comment by Cicero that problems in the credit markets in one part of the Empire inevitably would spread to all trading ports in the Mediterranean. Various agencies created in Rome's long-running New Deal intended to help or bail out everyone from merchants to grain farmers to wine makers suggests that the hardships of a post-boom contraction hit virtually all classes in society. More>>