Moderator Emeritus
Posts: 14,654
Registered: ‎12-30-2011
Re: SmartMoney: Why the Credit Bureaus Can't Get It Right
[ Edited ]

my-own-fico wrote:

You have to wonder if one regulated public non-profit agency wouldn't be better than several unpredictable private for-profit agencies.

 


I'd give it a 7% chance of being successful within a decade, and maybe 19% of being successful within two decades of the project start.   That's after tremendous cost overruns too; infrastructure historically is just not something the government does well and it's likely to get worse before it gets better as well.  Forking over a bunch of tax dollars to Deloitte, Ernst, Accenture et al for yet another suboptimal system, pass.

 

Open market almost always does better: I'd rather have the banks and CRA's competing to get it right rather than take it out of their hands.  It's not ideal now, but I just don't think the government would get it right either.  Lessons learned private sector takes eons to be learned in the public one.

Starting Score: EQ 04 561, TU 98 567, EX 98 599 (12/30/11)
Current Score: EQ 04 693, EQ 8 714, TU 8 710, EX 8 724 (05/27/16)
Goal Score: 700 on EQ 04 (01/01/17)


Take the myFICO Fitness Challenge