PWCC expands its lending activities - Net54baseball.com Forums

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#11

09-08-2022, 10:41 PM

Casey2296

Is Mudville so bad?

Member

Join Date: Sep 2020

Location: West Coast

Posts: 5,610

Two words: Leverage and betting on the come.

It's a nice lending model and very profitable, the risk is all on you and the asset. When the chips are down they don't even have to come after you, they just lock down your asset which they already have in their possession. I'm in lending and I would love to read the fine print on this program and would probably participate in it as a lender.

You have a collection of cards that are valued at today's value but if your precious 48 Jackie drops in value I'm keeping your card and you owe me money and I'll come get it.

Same model as mortgage backed securities in 2008, or putting 20k in card purchases on you credit card and not doing the math. My vote is no if you want to sleep at night.

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Phil Lewis

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