Liquidity has dried up in the points forum for loans.Would it be a good idea fo SBR to start a loan program?
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I gave a few loans out. But now I think I am stuck with 2 posters stiffing me.
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Hey Dad you got my pm?Comment -
Not a bad idea actually
They could make out well in interestComment -
No federal bailout for the SBR banks when their loans go belly up...........Comment -
Not a bad idea at allComment -
If the poster defaults he will be banned from Sbr.Comment -
Now that would be stupid...doesn't even make any sense..Comment -
so what, with all the ghosts it wouldn't matter!Originally posted by tltaylor89Comment -
there would be so much stiffing!Comment -
If a poster takes out a loan with the full intent of stiffing, a ban from SBR will not matter to them...Originally posted by tltaylor89Comment -
It is the same principle of taking a free shot at Creditwagering -- and stiffing if you lose, unless of course you send JJ or Pavy to collect.Originally posted by ShortstopComment -
This is a stupid idea. How is SBR going to recoup losses from stiffs? The way banks operate they lend money at a 8-20% interest rate and give 1.5-3% rate on saving deposits or CD's. This is how they manage risk and stay in business. So for SBR to open a bank they have to take deposits for points. But SBR is also the one who awards the points daily..that is the Federal Reserve Bank who issues currency. So what you are actually asking doesn't make any sense because there is a conflict of interest mixing private and government entities in one business. This is why the private loans worked out so far between posters. Because SBR was the FRB and posters were the privately owned banks.Comment -
These loans should only be avaliable to posters with at least 10,500 posts.Comment -
Lets let the wealth (trickle down)Comment -
loaning points is stupid...period....regardless of who's loaning themComment