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Posts tagged ‘small business’

Are peer-to-peer lenders the future of banking?????

This article titled “Are peer-to-peer lenders the future of banking?” was written by Josephine Moulds, for The Observer on Saturday 9th June 2012 23.01 UTC

“Never lend money to friends or family,” the saying goes. But how about complete strangers? Websites that match up borrowers and lenders are enjoying a new wave of interest after a series of high-profile endorsements.

First came Andy Haldane, executive director for financial stability at the Bank of England, who said peer-to-peer lenders could eventually replace high street banks. “At present, these companies are tiny,” he said. “But so, a decade and a half ago, was Google. If eBay can solve the ‘lemons problem’ [substandard products] in the secondhand sales market, it can be done in the market for loans.”

Then the government said it would channel £100m to small businesses through alternative lending channels, including peer-to-peer lenders, hoping to bypass the mainstream banks, which are reluctant to lend. The news caused a flurry of excitement among the few established players in the field, including Zopa, for personal loans, and Funding Circle, for small businesses.

These websites act as a kind of broker between lenders and borrowers. The idea is that without expensive branches and the weight of regulation, they can offer better rates to both sides. For a loan of £5,000 over three years, Zopa certainly comes out cheapest on moneysupermarket.com, offering 7.3%. And it says lenders on the site can expect returns of 5%-5.5% after fees and bad debts, which beats most easy-access savings products out there. The model is, however, not without risks

full article at source: http://stateofglobe.com/2012/06/10/are-peer-to-peer-lenders-the-future-of-banking/#more-3759

Frank Daily Reveals some of NAMA’s secrets

Saturday, I had the time to listen The Marian Finucane talk showon RTE 1
Marian was talking to the NAMA chairman Frank Daily Listen here to show .What I
found most surprising was after nearly 15 months NAMA still has to approve one
business plan and even this one “was close to finality” This is surprising to
say the least Then we heard that NANA wrote to the Government last year about
Upward Only Rents and leases, to highlight the effects any change would have on
NAMA,(presumably negative). Anyway listen and learn here
NAMA chairman Frank Daily

Unemployment and a corrupt politicial system

“Fairness for the small self-employed employers”

All of our problems stem from the same point!
Unemployment ,and the continuing loss of jobs are the government’s biggest failure.
It is well-known that over 80% of the jobs still available come from small business.
These small business are overwhelmed with red tape, taxes, and idiotic restrictions .
The government have done nothing to aid this small business to survive this rescission because none of them know anything about small businesses. The bank bailouts  have soaked up all of the funds the government might otherwise had to support these real supporters of the economy
Instead of helping the current government have done exactly the opposite by raising new stealth taxes and charges at the expense of the small business in favour  of the multi nationals (ESB Charges) (VAT hikes)
In fact not only are they not helping they are actively hurting small businesses with their bank bailout policies by robbing the life blood of credit to these small business .

Every Euro you take from a small business in taxes is a Euro that can’t be paid out in wages.
Instead of kneeling down before the multi nationals get you finger out and stop strangling the guy that gets up every morning and helps other citizens to hold down a job that in turn
Helps him to consume the products of other small business and safeguards local jobs
There will be no support in the property sector if ordinary citizens don’t have confidence in the wider economy or in the people who are supposed to be running the economy and as of now ordinary citizens have lost all confidence in the government’s ability to run the economy .

More worrying the constant televising by the established opposition political parties
About their plans to divide up the various ministries when they get into Government buildings is nothing short of sheer arrogance on their part .

We the citizens do not want business as usual with the existing musical chairs political system
The opposition have not displayed any of the characteristics needed for a radical approach to reversing the disastrous situation the economy is now in, nor have they displayed any real opposition to the governments handling of the crises.
Why?
Because they are themselves career politicians feeding from the same corrupt self-preservation system that they have grown up with all their political lives. Their political parties stamp out every last drop of independent thinking  these TD,s have.

They become addicted to the dictates of the leadership and their sole purpose in life from then on  is to become the leader of the party and so become the leader of their own administration. Citizens problems are soon forgotten and in time their own self-indulgence of their own importance becomes overwhelming .

They are totally reliant on the same civil servants that the current government is reliant on
The same people who will be advising the next batch of public servants whose loyalty is to the current corrupt system .

Remember they are not all fired when a new government is elected into office they stay put !

so they need to be constantly retrained and up skilled to meet the need of a modern economy

We need to get new people into the Dail with a mandate to totally revamp the system by giving back to the citizens the right to fire any servants of the people anytime and not have to wait for 5 years

Under such a system Ivor Callely would be gone a long time ago and without a pension and a lot of his fellow leaches would have joined him
Please support change (promise yourself that) by not voting for any of the current TD, s in the Dail otherwise we only end up with the same incompetence that has destroyed our country
We must break the mould that is sucking us dry

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