The roots go down further than that. During the Carter years, credit reporting agencies got practically a fucking monopoly. They started requiring credit seekers to go through one of 3 government approved credit reporting agencies.yep ...the community reinvestment act was the catalyst that caused the collapse of 08 .That's not what happened with my other investments. My investment club saw that shitstorm coming from a mile away.Or you could have lost most of it in the crash of 08 and or made bad investments and have nothingBullshit. If I would have invested all of that money I paid into social security, and got the same return as my other investments, it would be worth several million dollars today.
I will never get that money back in social security payments unless I live to be hundreds of years old.
We went from meeting once per month, to meeting several times per week, often into the wee hours of the morning, around the beginning of 2007. We knew the crash was inevitable, put our minds together, and brainstormed on strategies to capitalize on the situation.
All that extra effort, while tedious, paid off very well.
Today we are seeing a very similar conflict of interests. They are literally selling credit scores and advertising it on TV. For X amount of dollars, your credit score can increase by Y amount of points. It's another huge conflict of interests.