Is bad credit a character flaw?

[Zentrickster]

Absolutely in a second

 

[sjfan]

Your hypothesis suffers from a logical fallacy called "excluding the middle". Your entire argument (which is the refutation of the hypothesis) suffers from both "strawman arguments" and "argument by ridicule). You are a walking textbook example of how to now rationally present a case.

Quote from ddefina:

Someone of high moral character won't have a bad credit score. And likewise a person of low moral character will have a low credit score. Thus, it can be assumed that "Mr. Cigar", being one of low moral character, not withstanding selling missile technology to China, has a low credit score.

If this hypothesis is true, prospective presidents should be required to have high credit scores before being allowed to put their name on a presidential ballot.

 

[sjfan]

Let me rephrase the above poster's question then - instead of working for you, would you want trump to invest your money? better yet - would you lend money to trump?

Quote from Zentrickster:

Absolutely in a second

 

[Zentrickster]

Sure with collateral and proper ageements. Why not?

 

[sjfan]

... collateral and proper agreement... I guess you've never had to contend with collateral value risk, custodial risk, judgement uncertainty, and bounderline fraud.

Quote from Zentrickster:

Sure with collateral and proper ageements. Why not?

 

[Zentrickster]

With proper agreements those things are all handled. Particullarly the bounderline fraud

 

[bigarrow]

Quote from TGregg:

Would you rather insure their car or the car of somebody who is very responsible?

....
But if I am a car insurance company and I need to set rates for a million customers then one easy variable is credit score. There are many other considerations of course, with some being of more importance such as accidents, tickets, and primary vehicle, but credit score is a useful tool.

The only reason the insurance companies are using this pricing method is for increased profits not to offset costs. You really don't know insurance companies work, everything they do is for profits no matter what they say. Nothing wrong with that except when they lie (as they often do) as they are doing with rating of lower credit rating customers. A better way to judge a driver is on his past driving record, wouldn't you agree, I knew you would.

 

[aegis]

Quote from sjfan:

Let me rephrase the above poster's question then - instead of working for you, would you want trump to invest your money? better yet - would you lend money to trump?

And he's still a billionaire and I'm willing to bet anything that you're not.

The system is designed to reward those who take risks. The banks have obviously taken advantage (i.e. bailouts). So why can't you and I? If it's okay for GM to declare bankruptcy, I should be able to declare bankruptcy when I lose my job.

 

[Zentrickster]

So you know more about lending than all the banks that lent to trump? Lovely!

 

[sjfan]

Trump is a billionaire? .... that's news to everyone on earth.

But aside from that, what exactly are you arguing with me about? You *can* declare bankruptcy. But there are certain limits to what you can do in a bankruptcy because there are so many of *you* (as in, people). So, unless there are some limits to it, then a lot of lending to individuals won't be done. The power-to-be, rightfully or wrongly, decided that it's in the public interest to promote such lendings. Hence, limits were placed.

Again, what exactly are you arguing with *me* about?

Quote from aegis:

And he's still a billionaire and I'm willing to bet anything that you're not.

The system is designed to reward those who take risks. The banks have obviously taken advantage (i.e. bailouts). So why can't you and I? If it's okay for GM to declare bankruptcy, I should be able to declare bankruptcy when I lose my job.