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In Search of the Sixth Sense

Auctioning loans

Via Mises Economics Blog: A Bank That Isn't, Zopa is an online lending exchange for dealing with micro-credit. It deals with risk of default by spreading risk among a group of fifty borrowers and fifty lenders. Right now, this is only available for residents of UK.

The Washington Mutual, a major bank, had started using eBay auction to set interest rates for its CDs (certificate of deposit or fixed deposit).

Maybe it is a good idea for eBay to do what Zopa is doing in UK.

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