I loaned $1000 to rather risky people with an average interest rate of 21.2%. I ... | Hacker News

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		kf on Nov 26, 2008 \| parent \| context \| favorite \| on: Prosper.com, P2P Lending Startup, Shut Down by SEC... I loaned $1000 to rather risky people with an average interest rate of 21.2%. I lost $200 dollars with a 39% default rate.

dpapathanasiou on Nov 26, 2008 [–]

So you experienced the sub-prime crisis in microcosm ;)

kf on Nov 26, 2008 | [–]

I really did... my tactic was to loan to high risk people that were homeowners. I was making money until the whole subprime troubles started bubbling up.

Though I wasn't using 35:1 leverage.

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