things we are reading … 05/07/2008
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Here Comes the P2P Economy – Harvard Business Online’s Conversation Starter
Just located the entire HBR article online with no subscription required
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It is only a matter of time before these digital systems close the arbitrage enjoyed by large banks, which lend at up to 15% interest but pay only about 5% on capital. Why do business with a bank when your network’s lending and savings interest rates are both 7%? To grasp the power of such a system, imagine your local credit union with the membership and social networking capabilities of MySpace.
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