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No. of Recommendations: 3
The lending industry's mistakes appear to be self-correcting. People that shouldn't have been loaned money for a house (that's less than 1% of borrowers, if you're bothering to keep score here) are loosing their houses and the most egregious lenders are taking a bath because of their stupidity. So what's the point of tacking on the expense of legislation when it's really too late to do anything that would make a real difference for the ones that are loosing their houses right now?

- Joel


It seems that what is being measured is the reliability and effectiveness in using credit scores to measure credit risk. Apparently they do quite a good job.

That would also seem to lend support to the idea of raising interest rates for people with credit card debt whose credit scores decline, and cutting interest rates for those with credit card debt when their credit scores increase.

Seattle Pioneer
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