Posted on 11/10/2019 10:58:15 AM PST by gattaca
Bernie Sanders wants to change the way your credit score is calculated.
He would eliminate the private credit reporting companies and substitute them with a government-managed credit registry.
Medical debts would be excluded from people’s reports.
There could be a new factor to your credit score: the president of the United States.
Independent candidate Bernie Sanders wants to eliminate the private credit reporting companies and substitute them with a government-managed credit registry. The proposal was released over the weekend and, at the same time, Sanders announced his plan to erase $81 billion in past-due medical debt, one of the main issues dogging Americans’ credit reports today.
Sen. Sanders, I-Vt., says the public credit registry would be housed in the Consumer Financial Protection Bureau, the agency created in 2011 to protect Americans from predatory lenders in the wake of the financial crisis. According to Sanders’ campaign, the new system would use a “transparent algorithm to determine creditworthiness that eliminates racial biases in credit scores” and allows Americans to access their credit scores for free. Medical debts would be excluded from people’s reports.
“We must and we will remove the profit motive from assessing the creditworthiness of American consumers,” Sanders’ announcement reads.
(Excerpt) Read more at cnbc.com ...
Will Bernie and CNBC just go away? Now?
No. I’m not going to invite the Trojan Horse of direct Government intrusion into my financial situation.
They know enough as it is.
I’m okay with the threat, as long as it is used as a lever to get the Big Three to behave better.
Bernie and Lizzie and The Squad think that by definition, anything the government runs will be “better” than anything now done by the public sector.
That defies government’s past performance.
The bigger it gets, the more bloated it gets, the more inefficient and corrupt it gets.
Oh, we’ve got a Bernie idea. That means one can randomly choose any reason whatsoever from a bin and stand an almost 100% chance of that reason being capable of destroying that silly little ideas of a man who’s never had a real job.
ROFLMAO!
Yep. Sure. I’m going to voluntarily TELL Mother Government what my Net Worth is!
LOL! I’m going to be laughing for the rest of the day!
Is the center image a pinata?
If not it should be.
Ping.
Worth 3000 words.
Bernie thinks China’s social credit system is the bomb.
It will also include your “social credit score.”
<< He would eliminate the private credit reporting companies >>
If Bolshevik Bernie had his druthers, he’d eliminate private everything.
It would be one more CROOKED government agency.
Erase medical debt from credit report? What’s next? Student loan debt? Auto loans?Politicized credit reporting at its finest.
“He would eliminate the private credit reporting companies and substitute them with a government-managed credit registry.”
it’s what a socialist would do: “nationalize” private industry ...
Posting on this site will reduce your credit score 500 points under Bernie’s real plan.
The people I know with bad credit, consistently whine about how horrible and unfair it is, all while continuing to make the bad choices that got them into that situation in the first place. One person I know continue to spend like they have plenty of cash to pay their bills despite being severe debt, basically spend it as you get it and don’t worry about paying off your debt.
The IRS refused nonprofit status to conservative groups for years, in violation of the law. The IRS audited political opponents of the DNC repeatedly, in violation of the law.
Do not give them the ability to ensure you can’t rent an apartment or apply for financial jobs.
The IRS refused nonprofit status to conservative groups for years, in violation of the law. The IRS audited political opponents of the DNC repeatedly, in violation of the law.
Do not give them the ability to make it impossible to rent or buy property. Or make you ineligible for many jobs. You know they’d make sure conservatives couldn’t get security clearances or hold positions of trust.
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