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A comment on China's Peer-To-Peer Lenders Are Falling Like Dominoes as Panic Spreads. Parent comment
I have to think there is some misunderstanding here - lots of nonbank companies issue loans. Ford Motor Credit is not a bank.
The thing that banks are uniquely allowed to do is to take deposits, and lend out that money.
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I have to think there is some misunderstanding here - lots of nonbank companies issue loans. Ford Motor Credit is not a bank.
The thing that banks are uniquely allowed to do is to take deposits, and lend out that money.