Posted on 07/12/2021 7:45:21 AM PDT by SeekAndFind
That was fast. Here come the Chinese-like social credit scores.
Leftist Democrats, but I repeat myself, are making no secret of their plans to become more like their comrades in China. They support vaccine passports for COVID mRNA shots in order for people to receive certain social rewards such as going to school or attending a Major League Baseball game, just like the social credit score system in the People’s Republic. Now, Democrats and Congresswoman Maxine Waters, the chair of the House Financial Services Committee, want your FICO score to go full “woke.”
They’re not even trying to hide it.
USA Today reports that in testimony before Waters’s committee on June 29, the counsel for a group called the National Consumer Law Center, Chi Chi Wu, a product of Harvard and Johns Hopkins, gave away the game on how her law-fare grifting group and people like them want to change FICO credit scores. Wu and her fellow travelers got a warm reception at the three-hour-plus hearing.
Wu wants the government to take over the credit scoring “now,” which in her magical utopia would include response “to public pressure” without putting “profit-making as their top priority.”
While public agencies are not perfect, at least they would not have profit-making as their top priority. They would be responsive to public pressure and government oversight. They could also be charged with developing credit scoring models to reduce the yawning racial and economic inequality in this country.
The fact that these are private, profit-seeking companies explains why the credit bureaus are constantly expanding their products into uses, such as employment, insurance, and tenant screening, that ultimately harm Americans and contribute to the massive inequality in our nation. [emphasis added]
(Excerpt) Read more at pjmedia.com ...
FICO credit scores = Debt Slavery Score
Socialists are just Communists without the cool branding.
+300 bonus points for being of the favored racial or ethnic heritage!
Good point. Stalin said it like: "The purpose of socialism is communism."
Revelation 13 refers to it as the "mark of the beast".
There have always been crackpots like this around. The problem is that anyone in authority takes them seriously.
I certainly don’t. But then, I’m pretty old, have a fantastic credit score (but don’t need it) and put my faith in the Lord, not our government.
Credit scores are a valuable indicator. You would not want to hire somebody with massive debts in any position where he has access to company cash.
Landlords don’t want tenants with a history of not paying rent.
Etc
Well, Democrats have been looking jealously at the Chicom Social Credit system.
It should not be surprising that they suddenly latch on to a ready made system for measuring ‘compliance.’
So give more credit to less credit-worthy citizens?
Hmmm.... Sounds familiar. How did it work out last time?
There are legitimate uses for credit scores. I think the issue here is that China uses a social credit score, which is derived based on someone’s social/political views and behavior. It’s predictable that in America, such an evolution of credit scoring would set things up that one must be liberal in order to get a job, rent an apartment, etc.
Wasn't it US "big tech" who designed the whole social credit score system for China? If so, wouldn't it make sense that they developed the same system here? Hell, we were probably the prototype that they used to sell the system to China.
Stop bringing that up, you racist!
Credit scores do not take rent into consideration. They mostly focus on consumer loans such as credit cards, mortgages, auto loans, etc., as well as bankruptcies, liens, and similar negative history. Rent is not a consumer loan. It is either a lease for a set period or a month-to-month arrangement.
Paid off all my debt, then watched my FICO score drop. I have a home, car, and anything I want with $0 owed...but if I ever need a loan, I can’t get one, because I’m not “a good steward of my money” and I must “maintain some debt” to show I’m responsible when I pay back my lenders. Good thing I don’t need them anymore.
How does this hurt Americans more than the Canadiens/Canadians?
oops got on wrong page
My score is -37.
Lenders are not going to want to provide loans to losers.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.