Pursuits
Eisman Assails ‘Clueless’ Silicon Valley Over Online Lending
- Too small to be next ‘Big Short,’ still cause for concern
- Loans treated like sales, he tells conference in film echo
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A money manager who famously predicted the collapse of subprime mortgage securities, Steve Eisman, has turned his sights on the internet loan industry.
While the loans these companies make are small on average and don’t portend to be the next "Big Short" -- the title of the book and film that detailed Eisman’s bet against the debt central to the 2008 financial crisis -- there is reason for investors to be cautious, he said.