Another Institution Is Cracking

The banking industry has a new competitor. The ‘person to person loan’ it’s called. Individual borrowers and lenders meet via the internet. One such site has almost a half million registered users - prosper.com.

Loans are made and repaid without the proverbial middle man. This represents the de-professionalization of another major institution and the parallels to clergy-less house churching are readily apparent. Folks really can serve one another beyond and without “the system.”

Power to the people.

http://www.npr.org/templates/story/story.php?storyId=15876230