11–20 of 137 posts
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
The latest disclosures Tuesday, uncovered by a company probe, found that in the last few weeks of December 2009, Laplanche and three relatives took out 32 loans for a total of $722,800. All but three of those loans were repaid in full over the next two months, implying they were taken out to artificially goose Lending Club’s loan origination numbers. If true, would that be considered fraud?
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
You can apply your logic to basically any entity in history to belittle them. Everything can be positioned as a "massive case of blah " if that is your goal.
etc.
In just world this would result in a prison sentence, banishment from stock exchanges, and revocation of their corporate charter. The fact that there is no capital punishment for companies, especially public ones, provides a moral hazard.
We've got a good handle on things like punishing criminals that rob someone at gunpoint. However, we struggle with seeing the CEO making short term loan to his company as theft from investors (the short term loan hid the fact that the company wasn't meeting its presumably publicly announced growth targets).
The issue is that white collar crime needs to show criminal intent. But, in this case the CEO didn't have criminal intent to steal, rather his intent was simply to boost his business (with the consequence of misleading investors).
Stock's up 7% as I write this. I'm assuming nothing has been revealed that isn't already at least suspected, and layoffs are generally good for a stock's price. I've already made money on one dip-and-bounce, but currently in at 4.88, so here's hoping it will claw it's way back a little bit. I'm in no way qualified to declare a bottom, but I'm guessing all of the bad news is out of the way. This in no way constitutes…
Who would have thought that the basic laws of lending apply to fintech startups?
Stock's up 7% as I write this. I'm assuming nothing has been revealed that isn't already at least suspected, and layoffs are generally good for a stock's price. I've already made money on one dip-and-bounce, but currently in at 4.88, so here's hoping it will claw it's way back a little bit. I'm in no way qualified to declare a bottom, but I'm guessing all of the bad news is out of the way. This in no way constitutes…
LC has been bouncing up and down with 5-10% daily changes very frequently ever since the news broke about their security fraud and CEO departure. The 7% change today (given the general market rally today) likely means that the market sees this news as neutral.
But personally, I don't try to read tea leaves. Set my stop limits so I don't have to watch it like a hawk, set an alert for the upper limit, and watch LC news strictly for entertainment value. Because thought the story is somewhat interesting, it's not anything we haven't seen before with companies like Tyco and Adelphi.
Stock's up 7% as I write this. I'm assuming nothing has been revealed that isn't already at least suspected, and layoffs are generally good for a stock's price. I've already made money on one dip-and-bounce, but currently in at 4.88, so here's hoping it will claw it's way back a little bit. I'm in no way qualified to declare a bottom, but I'm guessing all of the bad news is out of the way. This in no way constitutes…
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
People have dreamt about on-demand car hailing for a long time, but it's always been a pipe dream - building the two-sided network is such too hard and too expensive, and a small network is just not worth using as a consumer. How is this not innovation?
Wow, so the crown of the "fintech" movement is just as bad as the banks, and the two biggest Silicon Valley successes of the last decade, Uber and AirBnB, are really just cases of massively successful regulatory arbitrage. Nice innovation!
It seems a common way to "disrupt" a market is to find a loophole to call yourself something else so you can avoid all the laws everyone else is beholden to that were put in place for people's protection.