Anyone here ever stick a few quid into the Irish peer to peer lending provider Linked Finance?
I see LendingClub, one of the most prominent peer to peer lenders in the US is tanking at the moment and the CEO has resigned over improper amendments to loan documentation and failure to disclose a conflict of interest. Would be a real shame if the industry was damaged, I think it’s a great idea. There’s some fascinating things happening in ‘Fintech’ at the moment.
Nobody, including economists, knows when a recession starts as all economic data is backward looking. The data is mixed, but a recession is on the horizon and overdue. What I will call is the next leg down in the bear market that started last August. Continued choppiness in the short term, drifting lower, and the S&P at 1600 (down 20%) by late Summer.