I hate to ruin anyone's day – but ….

Instead of our political shit brains trying to figure out another stimulus package that won't work … how about if they try working on the basics, like the credit system that went obsolete 10 years ago and is one of the major causes of our horrible situation today.

Up until the late 90's the “Beacon score” was used instead of the FICO score …. the Beacon score was a small combination of points and a large combination of your credit history (remember when your actual credit history counted for something.??)

At that time, you had lenders that could actually read and understand a credit report – (unlike today). Their decisions were based on small items like: your current and past employment, current and past income, a small thing called a “debt ratio” — (remember the days when your “debt ratio” counted.??)

Now today .. we have folks that come out of school and work at a Home Depot or a Dillards and 6 months later get a VISA and “bam”, they have a 780 FICO score making $1,500 a month …. and we wonder why folks are driving $30,000 SUV's and can't make their house payments — they couldn't afford a $10,000 vehicle, let alone an expensive SUV and rent, let alone any mortgage payment … the super sad part is, their loan(s) were probably approved by a 26 year old “loan officer” who can't read a credit report and still lives with his parents – and hasn't owned a home yet.

The FICO system has been a joke for the last 10 years — (but we're looking at stimulus packages??) .. are you aware that FICO punishes consumers for paying off their credit lines and getting rid of the card.??

Does anyone in Washington even understand the “basics” of the financial market.???

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I hate to ruin anyone's day – but ….

Instead of our political shit brains trying to figure out another stimulus package that won't work … how about if they try working on the basics, like the credit system that went obsolete 10 years ago and is one of the major causes of our horrible situation today.

Up until the late 90's the “Beacon score” was used instead of the FICO score …. the Beacon score was a small combination of points and a large combination of your credit history (remember when your actual credit history counted for something.??)

At that time, you had lenders that could actually read and understand a credit report – (unlike today). Their decisions were based on small items like: your current and past employment, current and past income, a small thing called a “debt ratio” — (remember the days when your “debt ratio” counted.??)

Now today .. we have folks that come out of school and work at a Home Depot or a Dillards and 6 months later get a VISA and “bam”, they have a 780 FICO score making $1,500 a month …. and we wonder why folks are driving $30,000 SUV's and can't make their house payments — they couldn't afford a $10,000 vehicle, let alone an expensive SUV and rent, let alone any mortgage payment … the super sad part is, their loan(s) were probably approved by a 26 year old “loan officer” who can't read a credit report and still lives with his parents – and hasn't owned a home yet.

The FICO system has been a joke for the last 10 years — (but we're looking at stimulus packages??) .. are you aware that FICO punishes consumers for paying off their credit lines and getting rid of the card.??

Does anyone in Washington even understand the “basics” of the financial market.???

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