[babyjustin]

http://www.channel4.com/programmes/bank-of-dave

Anyone think the show was AWESOME! Dave is a great businessman and seems to get everything right. I know the place where I will save my money

[babyjustin]

Anyone?

[Ray Bradbury]

He's a character though isn't he!
If you close your eyes it could be Guy Martin the TTracer talking.
Seems a lovely bloke, but if you lived with him you would end up killing him. All that mad enthusiasm.
I say good luck to him, he certainly cant do any worse than the greed driven morons that have brought us to the very edge of oblivion.

[Rakas21]

Great guy but naive.

The reason banks are not lending to people is because they have assessed the risk as being too high and quite rightly have adopted a much more disciplined business model.

Lending to everybody is idiotic in the long run.

[ForKicks]

Refreshingly optimistic guy but we will not know if the model is a sustainable form of banking until at LEAST a year down the line.

[babyjustin]

(Original post by ForKicks)
Refreshingly optimistic guy but we will not know if the model is a sustainable form of banking until at LEAST a year down the line.

Of course it is sustainable!! This is how banks used to function in the last century. This was until power was taken away from bank managers, who used to have great respect within their communities. But now all we have are a couple of dominating banks, with no competition and who have a complete monopoly over the market.

[babyjustin]

(Original post by Rakas21)
Great guy but naive.

The reason banks are not lending to people is because they have assessed the risk as being too high and quite rightly have adopted a much more disciplined business model.

Lending to everybody is idiotic in the long run.

He is not lending to everyone!! Mainstream banks have failed small - medium sized businesses and have stifled growth. Our economy should be growing, but NO it's not! He's not taken any risks at all - he gets to know the customers and only lends if he knows they can pay him back. If all banks took no risk we'd be back in the stone age. It just shows how much potential the British economy has - heck if every small sized business in the UK hired one more person, there would be no unemployment at all!!!!!!

[Minotauro]

Just watched the first episode, seems like a top bloke

[ForKicks]

(Original post by babyjustin)
Of course it is sustainable!! This is how banks used to function in the last century. This was until power was taken away from bank managers, who used to have great respect within their communities. But now all we have are a couple of dominating banks, with no competition and who have a complete monopoly over the market.

I mean the way he is kind of redefining the whole credit check process. However, I DO support the experiment. All major positive change is built on the notion of going against the grain and attempting what is said to be impossible. I hope he does well, but it will be a while until we can truly know.

[babyjustin]

(Original post by Rakas21)
Great guy but naive.

The reason banks are not lending to people is because they have assessed the risk as being too high and quite rightly have adopted a much more disciplined business model.

Lending to everybody is idiotic in the long run.

But he went out and visited all of the people he was lending to to assess the risk - and all the people he lent to paid him back. The problem now is that banks are far too stringent in their rules for lending - you have to have financial securities (your house) worth more than 5 to 10 times the size of the loan - making it impossible for small and medium sized business to invest.
So perhaps a bit naive but I think he has a lot of potential in the long run.

[ish90an]

I love how the same far left that berates banks for irresponsible lending that contributed to the 2008 financial crisis also wants banks to lend more to people who may not pay it back.

[Airfairy]

The Burnley/New York clocks made me lol

[WillowLeaves]

(Original post by babyjustin)
But he went out and visited all of the people he was lending to to assess the risk - and all the people he lent to paid him back. The problem now is that banks are far too stringent in their rules for lending - you have to have financial securities (your house) worth more than 5 to 10 times the size of the loan - making it impossible for small and medium sized business to invest.
So perhaps a bit naive but I think he has a lot of potential in the long run.

What you say is true - banks nowadays don't actually go and meet every single person who applies for a loan and assess them based on what their business seems like in person. However, in part, that's because banks nowadays simply don't have the time to do that. Furthermore, they actually have the odds of someone's success as a businessman worked out statistically from what evidence they can provide, so they know that a person with such-and-such paperwork is quite unlikely to make it in the long run. Ultimately, that's good for the businessman because if their plan isn't sound, they would become poor eventually and would have a really hard time dealing with all the loans they got based just on their optimistic projections.

[amylea_94]

I live in the same town as where "bank on Dave" is based

Just thought I'd share this with tsr

This was posted from The Student Room's Android App on my HTC Wildfire S A510e

[Rakas21]

(Original post by ish90an)
I love how the same far left that berates banks for irresponsible lending that contributed to the 2008 financial crisis also wants banks to lend more to people who may not pay it back.

Indeed, i love hearing politicians saying that we should go back to 2007 lending levels as they are effectively saying "i am an absolute idiot with no economic understanding in the long run", kind of scary as well though.