Author Topic: Western Asset Management story  (Read 2254 times)

mchu168

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Western Asset Management story
« on: August 04, 2016, 07:42:54 PM »
I'd rather see LC deal with these guys vs. the cast of unsavory characters that Prosper is facing according to the wsj....


http://www.bloomberg.com/news/articles/2016-08-04/lendingclub-said-in-talks-with-western-asset-for-funding-deal

Fred93

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Re: Western Asset Management story
« Reply #1 on: August 04, 2016, 11:52:13 PM »
Quote
Western, a subsidiary of money manager Legg Mason Inc., would commit to purchasing a certain amount of the lending platform’s loans each month, said one person, who asked not to be identified because the information is private.

Dontcha just hate those unamed unverified rumor sources. 

I doubt that W will "commit to purchasing a certain amount", as their money comes from mutual funds and similar vehicles, in which money flows in and out depending on market sentiment.  They may use the word "commit", but it will be hedged by weasel words.