2 ms·
I loaned $1000 to rather risky people with an average interest rate of 21.2%. I lost $200 dollars with a 39% default rate.
by rms 18y ago
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 18y agoSo you experienced the sub-prime crisis in microcosm ;)
- rms 18y agoI 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.