Lending Club Has Unusual Version of "Peer-to-Peer"

Lending Club, the “peer-to-peer” lending company who filed for an initial public offering today, might not be what one might assume, points out Bloomberg View’s Matt Levine. Peer-to-peer lending offer a low risk model You could logically assume that a peer-to-peer lending company would connect those who want to lend money with those who lend the money and take a fee for playing match maker.  This is clearly the lowest risk model. Not so, points out Levine: “Lending Club ends up standing between you and me not just as an agent — setting up my loan to you — but as a principal. I lend…