Today’s Daily Dig has a little bit of everything, including details on Richard Branson investing in cryptocurrency and crowdfunding, along with an audacious plan to reap billions from the taxpayer.
Community banks survived thanks to agricultural loans post-recession
The continued urbanization of America depleted populations in many counties, which would seemingly damage many community banks. Indeed that happened to some, but those who engaged in a high percentage of agricultural loans did quite well for themselves,reports Micheal Ide.
Hedge funders plan to take over Fannie and Freddie
Now that the danger is over, four hedge fund managers want Uncle Sam to essentially give them Fannie and Freddie so they can reap large profits, a logic used successfully after the fall of the U.S.S.R.. It’s incredibly shallow but it might work, says Matthew Yglesias.
Federal agency says Bitcoin could be ‘boon’ for the economy
The Federal Advisory Council consults with the U.S. Federal Reserve on most issues under their aegis. In a debate on May 9, they stated Bitcoin could do more good than harm to the U.S. and global economies. Pete Rizzo has the details.
Funding Circle adds experience with appointment of executive trio
U.K. peer-to-peer lender Funding Circle hired three new Business Development Managers, moves which could position the company for substantial growth, suggests Beth Fisher.
P2P growth attracting institutions that were supposed to be competitors, changes and scrutiny ensue
Peer-to-peer lending was born thanks to frustration with establishment institutions. Once successful, they attracted those very entities they were designed to thrive against. Institutional participation has forced the industry to take additional steps to keep the peer in P2P, writes Tracy Alloway and Elaine Moore.
For many years Canadian banks, including RBC and TD, have made big dollars in the Caribbean, but now that the region’s economy is in trouble, the gravy train may have left the station for good, says John Greenwood.