There has been a lot of excitement recently in online lending circles in the UK over a speech. Specifically a speech by Lord Adair Turner, the former financial services authority chairman who famously rubbished the sector back in February. At the LendIt Europe conference last week he stood up and said: ‘alright fine maybe the sector doesn’t like totally suck’.
Such optimism is in short supply on the other side of the Atlantic. On Wednesday, Warren Kornfeld and team at ratings agency Moody’s put out a note with the message: ‘no! it definitely totally does!’:Continue reading: Moody’s rains on the online lending parade