I read last Fall about peer to peer banking having an uptick due to credit freezes at normal banks, maybe that will be one of the phoenixes that rise out the ash? It makes a lot sense for local entrepreneurial types to pool money together. You know the local market better, can offer advice if you have small business background, potentially get a better return, while help revitalize the local economy
Who knows, it might even cushion some of the local real estate crash. Oh wait, we don’t want that on this board. We want businesses to crash and burn due to our communal sin of debt, the more people that loose their houses the better, specially at those delusional quality coastal areas. Then we can pick up a nice house at a reasonable 1998 price. Sorry, scratch my stupid idea.
