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This blog hopes to become a historical repository focusing primarily on the class action suit filed against Prosper Marketplace (and named individuals).

I would like to cover the case throughout the process, look at some of what lead up to this point and I hope to place these events in context of what occured during the past 6 years within this highly unusual, complex, charming, addictive, humorous and disillusioned journey we call the Prosper experience.

This background story has it all…hope, international intrigue, exotic locales, hundreds of millions of dollars, an unbelievable cast of characters, a new disruptive technology to challenge our very credit system, deep-pocketed VCs, deceit, betrayal, lust, numerous sociopaths, tractors, a well-known sextortionist, greed, crime (both organized and disorganized), seduction, copious amounts of cleavage, swindlers, epic chess games, groping, coverups, fanaticism, rednecks, extortion, crooked politician, pugs, charity, serial-killers, benevolence, sex, gambling, backstabbing, truckers, feuds, men posing in Speedos, drama, tragedy, comedy, mutinies, mysterious “deep-throats” and literally thousands of must-see pictures and must-read content logs, documenting the untold story of one of the great human experiments of our time, becoming the lender of last resort for some of the shadiest people living in the underworld of credit fraud on their way down – just as the world economy begins to unravel.

If you would like to learn more, or get involved with the independent user community of (mostly former) Prosper participants, head on over to

Finally, for the record, PCASM is in no way affiliated with Prosper Marketplace.

3 Comments leave one →
  1. Investar permalink
    February 1, 2009 5:34 am

    I read you religiously looking for process, clairity and insight. I’ve gone out on a bit of a limb in this forum post (available for public viewing) as I am not legally trained and in fact, tend to stay away from the “octopus” that is law as much as possible (grin). Any additions, corrections, or comments, I’ll be happy to link your blog.

    SCP Prosper, Investing, And Finance Forums

    about the forum…..

  2. Investar permalink
    February 1, 2009 5:36 am

    P.S. You are welcome to “steal” any of my text/ thoughts/ etc. at any time .. .. just do me the favore of linking to the forum.

  3. Roger Steciak permalink
    May 18, 2009 10:51 am

    “This background story has it all…”

    I’m glad someone is pulling together this background story because it needs to be compiled and analyzed.

    From the time Prosper launched in February 2006 through the first Prosper Days in February 2007, members of the Prosper community largely got along with each other and with Prosper. Then things started to deteriorate for some mysterious reason.

    Within six weeks after Prosper Days 2007, for example, Prosper was kicking people off of the Prosper Forums (and correctly doing so, in my opinion) for bad behavior. The relationship between Prosper and its community have only gone downhill from there. The latest new low is this class action suit against Prosper.

    I hope the Anthropology Department of some major university is studying Prosper and its related community. There must be a wealth of knowledge here about how online communities come together and fall apart.

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