What Do You Think Of The New Peer To Peer Lending Groups?

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With the shaky economy creating havoc with people's lives and financial futures, it's was only a matter of time that the growing number of Web 2.0 businesses responded... Peer to Peer lending is sort of like MyLot and Ebay combined, you join for free as a borrower or a lender and post your desire to help or be helped... The site allows people to set their own interest rates and terms for loan ranging from $1000.00 to $25,000.00. The identities and credit ratings of both borrowers and lenders are checked (borrowers must have a credit score of 520 or more) and the site provides security and fraud protections. I believe that this is an excellent way for people to help each other, without the messy complications of banks and other institutions, who commonly exist to keep people in debt... Peer to peer, means people to people, like in the old days. 1. Do you think that these programs are a good thing? 2. Would you consider such a program for yourself or someone you know? 3. Are such programs a viable alternative to banks, savings and loans, or other lending institutions? http://www.prosper.com No affiliate program is associated with Prosper. Thanks in advance for your responses! :)