Just listened to this
Just listened to this programme on peer-to-peer lending on BBC Radio 4. It can be heard again here and on the radio tomorrow at 9pm and next Wednesday at 3pm.It’s about cutting out banks as intermediaries and people lending directly to borrowers. No nonsense in the programme about banks being able to lend without having the money themselves. It seems that in fact you can get a better rate here as both a lender and a borrower than banks offer. But this wouldn’t be the case if banks could create money to lend out of thin air while peer-to-peer websites and call centres have to pay interest to lenders.