Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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To: GROUND ZERO™ who wrote (71959)	6/15/2015 5:10:55 PM
From: Brian Sullivan	Read Replies (1) of 218453

Goldman Sachs getting into consumer lending While still in the early planning stages, Goldman ( GS -0.7%) plans to go head-to-head with Main Street banks, not to mention online startups like Lending Club ( LC-1.3%), Prosper, and PayPal (Pending: PYPL) to offer loans of a few thousand dollars to regular folk. Goldman's effort will also be strictly online, and it's being led by new hire Harit Talwar, who joined the bank from Discover. Fans are already looking forward to Goldman dinging ordinary Americans' credit reports, and the congressional panels and Matt Taibbi articles sure to follow. Meanwhile, Oppenheimer's Chris Kotowski questions the capital allocation decision: “I refuse to believe that hiring a couple of programmers and offering to make $15K loans online is a highly value-added banking strategy.”

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