[ Edited ]
: Why the Credit Bureaus Can't Get It Right
11-09-2012 10:16 AM - edited 11-09-2012 10:17 AM
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.
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)
Take the myFICO Fitness Challenge