But for some reason, deep in my heart, this headline today scares me to death:
Govt to supervise credit reporting for first time
NEW YORK (AP) -- The companies that determine Americans' credit scores are about to come under government oversight for the first time.
The Consumer Financial Protection Bureau said Monday that it will start supervising the 30 largest firms that make up 94 percent of the industry. That includes the three big credit reporting firms: Equifax Inc., Experian and TransUnion.
In remarks prepared for a speech Monday, Richard Cordray, the government agency's director, said that score keeping by credit bureaus plays such a large role in Americans' financial lives, it requires scrutiny.
How many ways can the Feds figure to get into mischief with this kind of power? Seems to me like the system has been working pretty well over the years, changed the things that need changing and is providing a service.
I reckon I'm thinking about Franks and Dodd totally screwing up FannieMae and Freddie Mac, of Obamanation screwing the Gob'ment Motors stockholders and shipping the Cadillac jobs to China....
Maybe they'll develop affirmative action credit scores, add two hundred points for each of your minority status's. Hell, a young Obama, if he'd cut off one leg and declare hisself a tranny - could probably score 1200 points to buy a house and wouldn't need rescue from Resco... er somethin'......
Maybe I'm just getting nervous in my old age.... you reckon?