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Comment from: John Robertson [Visitor]
John RobertsonI've recently had two suppliers go bust - both for customers like me and for those who tried to work for them. They were Rosebank Slippers in Rosendale and William James Shoes in Rushden. Generally I've been pretty lucky, but the spiral of decline in UK manufacturing after an exchange rate deliberately fixed against it is savage to all concerned. I don't know if bank finance effected the closure of Rosebank Slippers; William James Shoes told me that is was an issue. The bank was simply not willing to do the job of a bank, with several people left out of work and possibly health and quite rightly claiming benefits off the welfare state we all pay for. So. Consider the borrowers too. If Ratesetter rates are falling, isn't that a wonderful thing? cheers J
01/04/12 @ 18:05
Comment from: easteregg [Member] Email
Many thanks for your comments John. You raise an important point here and collectively we all benefit when the economy is working. I would certainly encourage new borrowers to give Funding Circle a chance.
02/04/12 @ 11:35
Comment from: Dave Gibson [Visitor]
Dave GibsonI must say that I agree with John Robertson's comments regarding UK manufacturing.

However, the irony of the situation is that it is probably the very people (the bankers)who won't lend to the manufacturing sector who are controlling Funding Circle and now Rate Setter where some pretty sizeable amounts have been placed in recent days.

Like you Easter Egg, I put in modest multiple bids but when one individual, as happened last week, places 130 bids each of £100, i.e. £13000 in one block on one Funding Circle loan request whilst having in excess of £50000 bid on other requests I can only conclude that the spivs are now into what used to be known as "Social Lending"
03/04/12 @ 11:03
Comment from: Dave Gibson [Visitor]
Dave GibsonSince posting my comment earlier today I visited Funding Circle and couldn't help but notice that one of the individuals I referred to must be feeling the pinch as they can only muster 110 x £100 i.e £11000 of multiple bids against one loan request.

I can't be bothered to check how much they have bid on other loans but I'm convinced that the city parasites are now manipulating FC at least.
03/04/12 @ 12:59