Thursday, June 14, 2012

FICO credit Scores are unconstitutional

By William Kirkendale 
Coto de Caza, CA - You will be also interested to know that they are also 100%  illegitimate, defective, unauthorized and unlawful...Here's the truth about your FICO Score....It's totally un-American, it's unconstitutional, it's illegal AND it's the biggest scam and fraud ever perpetrated on the American public..... Man is not judged bytheir FICO scores!!!!....Man is judged by his integrity, his honesty and his truthfulness. So here's my question. I'd like to know on behalf of 300 million American citizens  Who it was that gave these FICO credit scoring  people the absolute  right and blank check authority to be the final arbiter, judge and jury and exclusive decision maker as to what constitutes the absolute and defining reasons and parameters of why a person is judged to be a good or bad credit risk? ...

Who may I ask appointed them God? ....And who gave them the unfettered absolute right to use their ownself serving and plagiarized secretive Algorithm computer formula and their un-objective, unproven and highly questionable score mode system to arrive at a "score" for them to then sell for handsome gains and profits as their final and unequivocal determination as to whether a person is a good or bad credit risk or not….. Is it because they are the only ones armed with these stolen and highly secret and very questionableComputerized algorithm "predictive analysis" system models and techniques that they and they alone are in possession of and who to everyone's detriment  are the only people on earth who understands and knows what their credit score means and how it was arrived at? And who set them up as a God like figure to be worshiped and adored as a golden idol  because they falsly claim that they can predict the future proclivity and predisposition of every single American citizen to be a good or bad credit risk in the future....and for this phony promise they charge people hundreds of million dollars in fees. I told you how big a scam this was...

Now You can guess what the future may bring  but you certainly can’t predict with 100% absolute accuracy and  certainty what it will be. If that's the case then where do these phony and arrogant FICO profiteers and tea leaf "prognosticators" get off making hard and fast judgments about a human beings future behavior.....and then adding a questionable score to define whether that persons behavior will be good or bad? Where do they get off with this and why isn’t it  illegal? It certainly is libelous and defamatory.

In the old days before the mortgage lending business totally collapsed in 2008 a person’s credit evaluation was based not on a questionable credit score but rather on a carefully and totally verified examination of a persons income and assets plus an accurate credit history of their legitimate debts....and by legitimate debts it meant only those debts that were incurred from legitimate sources and not from questionable and disputed debt from illegitimate sources such as third party medical collection agencies or scam bank secured credit card debt. It also didn't matter if you had paid off all your debts. It only mattered that overthe years you paid all your legitimate dept obligations as agreed. So you see back then in the old days when lenders used good old fashioned common sense loan underwriting we had no mortgage createdfinancial collapses in the country.Lenders performed common sense due diligence examination of a person’s creditworthiness and things went along quite nicely.

Today, however, that's not the case. Why? Because of massive greed and profit. Today your creditworthiness is judged only by a cleverly devised and systematically carried out world-wide scam called a "FICO score".  You know those so-called voodoo tea leaf numerical judgments of your character and integrity that are hawked on TV and radio everyday....This is why America just suffered it’s worst financial collapse since thegreat depression...And how was it that they we're able to carry out their scam? It was easy because thecat we had keeping the mice in line in the credit score/reporting business was a 40 yea old blind and demented cat with no teeth known as the Fair Credit Reporting Act of 1972. This law gave total control and license to the FICO credit scoring company to do whatever they wanted to make a buck off the backs of the American matter how obscene and illegal it was...And you should know that this won't stop until this ridiculous antiquated law is replaced with a new common sense law that will protect the consumer rather than protecting the FICO credit scoring company's obscene money making profit machine. (ie: The FICO Score)...As law abiding patriotic American citizens we should demand that this illegal  unconstitutional practice cease immediately. Otherwise we will be forever know as merely a number between 300 and 900...

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