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A Great Time to be a Banker

by Chris Larsen on 07/20/09

Great interview on the Charlie Rose show – Floyd Norris from NYT.  He points out this is a great time to be a bank -  a lack of competition amid tighter underwriting means banks can dictate terms to even their best borrowers.


There was a great interview on the “Charlie Rose Show” of Floyd Norris from the New York Times last Friday. Basically he talks about how these are phenomenal times to be a Bank. He points out that a lack of competition amid tighter underwriting means banks can dictate terms to even their best borrowers. In addition, current Fed policy – rates near zero – is maintaining an incredibly pro-bank environment. This was just validated by the eye popping profit reports of the largest banks – like Goldman and Chase – and even the weak guys like Citi and BofA. Floyd says in the interview that he wishes he could become a Bank. The reality is that he and other people can be bankers right now on Prosper!

Here’s a clip from the June 17th show:


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Notice: Blogs and other materials posted on or linked from this page that use the name "Prosper" generally use that name to refer to Prosper Marketplace, Inc. if published before January 31, 2013 and to refer to Prosper Funding LLC if published on or after February 1, 2013.