The Vanguard Diehards have been known to be among the most investment-savvy group of people on the internet. Recently, a discussion on Prosper.com was started. The group’s opinion seems to be that it is probably OK as a borrower but most would not touch the lender’s side with a 10-foot pole. Post 18 sums it all:
Let me get this straight. I loan money to a bunch of people who have had financial problems, mostly from borrowing too much money, and hope they will pay me an outrageous interest rate and my loan back.
I would(n’t) touch that with someone else’s 10 foot pole.
Link (49322) HERE.