The men who want to get rid of banks

PayPal's co-founder expects his new start-up to write $US100m of personal loans in 12 months. He's one in an army of entrepreneurs with established bank margins in their sights.

PayPal co-founder Max Levchin was 16 when he saw his family’s life savings of $US7,000 almost disappear just as they were due to flee the rising anti-Semitism of the Soviet Union to the safety of America.

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