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Witch Doctor
 
Group: Forum Members
Last Login: 5/21/2008 12:13:32 PM
Posts: 40,
Visits: 25
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Allows people to invest, and make a profit, on the poor.
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Beware of all enterprises that require new clothes. --Thoreau
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Top Banana
Group: Forum Members
Last Login: 11/11/2008 12:55:36 PM
Posts: 314,
Visits: 383
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It's brilliant if you think about it. Ebay takes your money, invests it in their in-house charity, then gets a huge tax write off while not having to pony up any cash or donations of their own. They get a huge tax break off of YOUR investment.
It will be interesting to see how it works out. There are other microfinance sites but their stipulations on returns are so tight that you'll never see them. I question how ebay will collect on loans, enforce contracts, and execute the transference of partial ownership from rural third world, single party endeavors to western investors. I bet they have a really tough time pulling this one off effectively.
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Top Banana
Group: Forum Members
Last Login: 11/11/2008 12:55:36 PM
Posts: 314,
Visits: 383
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Nevermind, I see how it works. The site offers you an interest rate on your investment. You don't really get a return on the business. If you invested $1,000 that was 80% of a business that grew to be $1B/year you still only get your 3% on your $1,000, not a return on your PERCENTAGE of investment. Boo.
2.0% APY on a 3 year note? That's straight out robbery! Gah, there are simple savings accounts that pay better than that!
I want to see a site that pays you directly based on the success of the business you invested in.
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Zombie Hunter
Group: Forum Members
Last Login: 10/27/2007 11:39:43 PM
Posts: 17,
Visits: 6
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Thanks, Soc, 'ppreciate your insight!
All the bills are paid
And I got it made in the shade
(for this month, anyway)
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