Posted by: thedailycrazy | January 19, 2009

20Jan09 – Ebay Style Credit

Would you like banks bidding to offer you the best rates?

OK, so our economy is short of oil to grease the wheels. Our banks don’t want to lend to anyone and they are now offering pitifully low interest rates to savers who want to give them cash. This is annoying and it is not good.

Howabout we have an ebay style system where banks bid to lend to us, starting at a ludicrously high interest rate and gradually eroding down until we have the lowest market price available. The same (with bidding in the opposite direction) could be done for savings accounts.

One loan for sale, £20,000 to a reliable owner, credit history attached…

Advertisements

Responses

  1. …there is such a system – zopa – with offer/acceptance of loans from a collection of individuals, the flip side of which is savings (investment) returns


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: