How Goldman Sachs Made More Than $1B with Credit Scores • Hacker News Board

Re: How Goldman Sachs Made More Than $1B with Credit Scores

#61

Post by karmajunkie » Mon, Apr 10, 2017, 6:13 PM UTC

snarfy wrote: post #40

user5994461 wrote: post #39

Earlier quoted context omitted.

As an European who've tried the American way. I have to say that it is clearly worse. In the EU country I was, when i get a job/flat/whatever, I give a copy of my national ID and tax statement, and that's alright. In the USA/UK, when I get a job/flat/whatever, noone trusts me or the government. I have to give plenty of documents and 5 years of history to a 3rd party shady check agency, that's gonna resell the data an…

> all because you wanted to avoid trusting a government. That didn't go well. I'm not so sure considering the current administration.

Ironically, the current administration is in power in no small part due to a constituency that doesn't trust the government.

Self-fulfilling prophecies...

Re: How Goldman Sachs Made More Than $1B with Credit Scores

#62

Post by hansthehorse » Tue, Apr 11, 2017, 8:06 AM UTC

user5994461 wrote: post #39

FTA wrote: post #17

People are always terrified of the Big Brother from government, but any time I have to verify my identity with questions like "What street of the listed have you lived on?" or "Which of these banks do you have a loan with?" it makes me realize how much aggregated data private (especially financial) companies have. I can imagine these corporations selling that info for good money, like how many transactions you make a…

As an European who've tried the American way. I have to say that it is clearly worse. In the EU country I was, when i get a job/flat/whatever, I give a copy of my national ID and tax statement, and that's alright. In the USA/UK, when I get a job/flat/whatever, noone trusts me or the government. I have to give plenty of documents and 5 years of history to a 3rd party shady check agency, that's gonna resell the data an…

Americans distrust national ID. Several administrations have floated the idea and have quickly learned that fact. We do have a de facto national ID in drivers licenses. If we had a medicare for all health system we would than have a national ID and a lot of those problems would go away.

Re: How Goldman Sachs Made More Than $1B with Credit Scores

#63

Post by raubkatze » Wed, Apr 12, 2017, 8:06 AM UTC

FTA wrote: post #17

People are always terrified of the Big Brother from government, but any time I have to verify my identity with questions like "What street of the listed have you lived on?" or "Which of these banks do you have a loan with?" it makes me realize how much aggregated data private (especially financial) companies have. I can imagine these corporations selling that info for good money, like how many transactions you make a…

That's why one should rather pay cash and not donate them your data..