MM, interesting perspective

Though you still have the guarantors, remember? But you are right,
maybe 'collateral' isnt the right word.

On 5/26/10, MM <thewabbit.m1dg3t@gmail.com> wrote:
> Interesting, according to wikipedia, collateral is a borrower's pledge
> of specific property to a lender, to secure repayment of a loan. If
> the borrower defaults, he loses ownership of the collateral. The bank
> now owns your friends?
>
>
>
> Sent from my AT&T iPhone
>
> On May 26, 2010, at 3:04, Jared Koyier <jaredkoyier@gmail.com> wrote:
>
>> Dream on Lawi!
>>
>> If the bank so wishes, let it print a billboard of what I owe and
>> put it on Waiyaki way.
>>
>>
>> On 26 May 2010 09:52, Mr. Lawi <mail2lawi@gmail.com> wrote:
>> Techies,
>>
>> Apologies for the misleading subject line. It was just a dream I had
>> a!
>> few mins ago.
>> Anyway, in the dream, banks will be accepting facebook friends as
>> collateral.
>>
>> Many of us know how hard it is to get a loan from a bank. The ask for
>> collateral which, if you had, you'd not be asking for the loan in the
>> first place. So, what if banks 'banked' on what many youth can claim
>> 'ownership': Facebook friends!
>>
>> This is how it would work:
>> - The amount of loan you will get will depend on how many friends
>> you have on FB
>> - The guarantor MUST be your friend on FB
>> - You must share at least x no of mutual friends with the guarantor(s)
>> - You shall accept the bank as a friend
>>
>> - The bank will post on your wall *repeatedly* a payment due message
>> if and when you default (Think of the embarrassment!)
>> - The bank will post the same message above on your guarantor's wall
>> - You shall not 'like' an overdue message on your wall. Its not funny
>> and negates the whole point of embarrassing you
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