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Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Maybe it's genetic||Date: 12/7/2012 4:05 PM|
|Author: kahunacfa||Number: 306496 of 308411|
Thank you for recommending this post to our Best of feature. - TMF
This is a link to a short entry that gives the abstract to a linked article about the possibility of a genetic variation pertaining to borrowing.
Could be interesting, could be unsettling. What if lenders started demanding DNA tests before they agreed to lend large sums of money? Or before hiring a CEO?
Nancy - Windowseat | Date: 12/6/2012 2:20:03 AM | Number: 306495
Actually the use and possible misuse of genetic testing is a scarey potential problem in many areas of life. The problem for mis-use is similar to the problem of Insurance Companies using auto insurance applicants FICO scores to rate and price insurance policy products. They use the FICO scores simply because: 1. They exist, and 2. they are inexpensive for an insurance company to obtain from the UnFair-Issac corporation. FICO scores were NEVER designed to ever rate insurance risk of any kind yet they are frequently used that way. There used to be a term: "There Out to be a Law". In this case State Insurance Commissioners could simply administratively prohibit insurance companies from accessing applicants for insurance FICO Scores.
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