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"I went to a garden party.... "

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Turbobuick
Established Contributor

"I went to a garden party.... "

We may need a bigger garden. With many, including myself, freezing the CB's there's going to be sudden lull of new credit compared to typical day to day. Could this upset the financial markets? The scope is large, the liability is larger, and it wouldn't surprise me if Equifax doesn't survive. 

Message 1 of 9
8 REPLIES 8
Appleman
Valued Contributor

Re: "I went to a garden party.... "

You may be onto something there, if you have to unfreeze your report, people may pause and decide not to impulsively apply for a card.

Message 2 of 9
AverageJoesCredit
Legendary Contributor

Re: "I went to a garden party.... "

I was on verge of unfreezing my Eq but not now, at least this will help my goal of getting my hps down to zeroSmiley Wink
Message 3 of 9
Anonymous
Not applicable

Re: "I went to a garden party.... "

Good for the consumer hopefully, credit companies will need to compete more to get new members, possibly increasing rewards.

Message 4 of 9
BurgeoningHope
Frequent Contributor

Re: "I went to a garden party.... "

CNBC had a pair of interesting interviews yesterday, and I'm sorry I was working from home, so I don't have the particulars on the interviewees. One was suggesting the Too Big To Fail tactic, that Equifax was too deeply a part of the "financial fabric" and that it would recover. He said he knows the CEO personally and considers him to be a thoroughly competent CEO. One of the anchors asked about the tech side, and how competent could anyone be to allow admin/admin ANYwhere, let alone a company dealing with this kind and scale of data. The interviewee's reply was along the lines of "well, I'm not a technologist, so I really can't say..." blah blah at which point I stopped listening to him.

 

Later there was someone else who opined that Equifax was going to go down in flames, with being down 30% in two days being the least of its problems. His position was that the lawsuits would take them down.

 

The first guy also said something about how we "must" use Equifax because we have no choice in which reporting agency would be pulled when applying for a credit card. Here I am hoping he might be mistaken.

 

  "I'm interested, but do you pull Experian?

  "Yes"

  "Oh, I am no longer interested"

 

I do know that when I was on the phone with my credit union on an unrelated matter today the representative started trying to sell me on a credit card. I stopped her right there and said "You know, I've JUST frozen everything, and it's non-trivial to unfreeze, so I'm just going to have to pass on that. I imagine you're about to hear a lot more of this". Yep.


Message 5 of 9
BurgeoningHope
Frequent Contributor

Re: "I went to a garden party.... "

So it turns out that Equifax's now former Chief Security Officer was a qualified to be in charge of security as a certain family member of mine - the one with a Bachelor's and Masters in Music. The article is in MarketWatch, BEAT THE SYSTEM, titled "Opinion: Equifax hired a music major as chief security officer and she has just retired" by Brett Arends

 

"Susan Mauldin, whose identity is being scrubbed from the internet, studied music composition"

 

I bet.


Message 6 of 9
Turbobuick
Established Contributor

Re: "I went to a garden party.... "


@BurgeoningHope wrote:

So it turns out that Equifax's now former Chief Security Officer was a qualified to be in charge of security as a certain family member of mine - the one with a Bachelor's and Masters in Music. The article is in MarketWatch, BEAT THE SYSTEM, titled "Opinion: Equifax hired a music major as chief security officer and she has just retired" by Brett Arends

 

"Susan Mauldin, whose identity is being scrubbed from the internet, studied music composition"

 

I bet.


Well, you can't solely blame her as unqualified as she was, you have to blame whomever placed her all the way to the CEO. 

 

I'm not about to turn down a job offering several times my worth just because I'm not an expert. Smiley Happy And you don't need to be an expert(musical or otherwise) to know to install an existing patch to software found to be vulnerable. 

Message 7 of 9
Anonymous
Not applicable

Re: "I went to a garden party.... "

I have a high school diploma, and I know not to use admin/admin on my home wifi network.

Message 8 of 9
BurgeoningHope
Frequent Contributor

Re: "I went to a garden party.... "

And as it happens I count among my personal friends three self-trained software engineers who each make six figures. Two have high school diplomas. One of those has most of an associates degree - in sculpture. The third has a degree in...music composition. They're all good at what they do. And the article concedes the strong link between musical aptitude and engineering. But aptitude is not the same as practice. None would take on that kind of a role - and one of them has worked as an engineer for Paypal, so is not unfamiliar with that kind of exposure and responsibility for his code and mastery of best practices.

 

Equifax seems to be the Pareto Principle on display. 

 

I'm off to refill on popcorn. This is going to be a show. 


Message 9 of 9
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