Lending Club has cut some great deals with big names such as Alibaba and Google. Most recently they have established an agreement with BancAlliance, a consortium of community banks, to lend on its platform. Lending Club promises better rewards for investors and increased affordability for borrowers. However, many of the borrower inputs that go into Lending Club's credit analysis (such as debt-to-income ratio, employment status, and borrower income) never gets verified. With the stock trading at 196x forward earnings, is the price too high given the underlying risk?