Report shows strategic defaults increasing

[Coronita]

…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….

Would you feel comp some of these clowns at a datacenters with access to your PII or worse to things needing security clearance???

http://articles.moneycentral.msn.com/Banking/YourCreditRating/how-bad-credit-can-cost-you-a-job.aspx

When I use to run a part of a systems group that handles b-2-b transactions, folks always wondered why as part of background check we pulled criminal records and credit reports. It wasn’t the only deciding factor, but was one extra data point to consider in hiring, granting access to parts of the system,etc.

[patientrenter]

[quote=jpinpb]…..Nevertheless, the situation is such that anyone doing the morally right thing is getting royally screwed.[/quote]

Agree. Nice counterpoints. For some people, being moral is limited to obeying the law. Society couldn’t function if everyone went to the edge of the law, regardless of how many lawyers (or free-loaders) may idealize that kind of society.

[patientrenter]

[quote=jpinpb]…..Nevertheless, the situation is such that anyone doing the morally right thing is getting royally screwed.[/quote]

Agree. Nice counterpoints. For some people, being moral is limited to obeying the law. Society couldn’t function if everyone went to the edge of the law, regardless of how many lawyers (or free-loaders) may idealize that kind of society.

[patientrenter]

[quote=jpinpb]…..Nevertheless, the situation is such that anyone doing the morally right thing is getting royally screwed.[/quote]

Agree. Nice counterpoints. For some people, being moral is limited to obeying the law. Society couldn’t function if everyone went to the edge of the law, regardless of how many lawyers (or free-loaders) may idealize that kind of society.

[patientrenter]

[quote=jpinpb]…..Nevertheless, the situation is such that anyone doing the morally right thing is getting royally screwed.[/quote]

Agree. Nice counterpoints. For some people, being moral is limited to obeying the law. Society couldn’t function if everyone went to the edge of the law, regardless of how many lawyers (or free-loaders) may idealize that kind of society.

[patientrenter]

[quote=jpinpb]…..Nevertheless, the situation is such that anyone doing the morally right thing is getting royally screwed.[/quote]

Agree. Nice counterpoints. For some people, being moral is limited to obeying the law. Society couldn’t function if everyone went to the edge of the law, regardless of how many lawyers (or free-loaders) may idealize that kind of society.

[briansd1]

[quote=flu]…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….
[/quote]

So there you go. There are consequences to people’s actions.

It’s up to each person to make the cost/benefit calculations.

Bill decided that it’s financially better for him to let the house go to foreclosure. It’s a business decision the same as a company filing for bankruptcy. Would you given credit to a bankrupt company? Many vendors do. They decide it’s better than losing a customer.

If you want to be angry, don’t be angry at those who lived by the rules.

Be angry at those who didn’t enforce the rules because they believed the market could self-regulate. There is only self-interest, self-regulation never works.

[briansd1]

[quote=flu]…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….
[/quote]

So there you go. There are consequences to people’s actions.

It’s up to each person to make the cost/benefit calculations.

Bill decided that it’s financially better for him to let the house go to foreclosure. It’s a business decision the same as a company filing for bankruptcy. Would you given credit to a bankrupt company? Many vendors do. They decide it’s better than losing a customer.

If you want to be angry, don’t be angry at those who lived by the rules.

Be angry at those who didn’t enforce the rules because they believed the market could self-regulate. There is only self-interest, self-regulation never works.

[briansd1]

[quote=flu]…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….
[/quote]

So there you go. There are consequences to people’s actions.

It’s up to each person to make the cost/benefit calculations.

Bill decided that it’s financially better for him to let the house go to foreclosure. It’s a business decision the same as a company filing for bankruptcy. Would you given credit to a bankrupt company? Many vendors do. They decide it’s better than losing a customer.

If you want to be angry, don’t be angry at those who lived by the rules.

Be angry at those who didn’t enforce the rules because they believed the market could self-regulate. There is only self-interest, self-regulation never works.

[briansd1]

[quote=flu]…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….
[/quote]

So there you go. There are consequences to people’s actions.

It’s up to each person to make the cost/benefit calculations.

Bill decided that it’s financially better for him to let the house go to foreclosure. It’s a business decision the same as a company filing for bankruptcy. Would you given credit to a bankrupt company? Many vendors do. They decide it’s better than losing a customer.

If you want to be angry, don’t be angry at those who lived by the rules.

Be angry at those who didn’t enforce the rules because they believed the market could self-regulate. There is only self-interest, self-regulation never works.

[briansd1]

[quote=flu]…and yet some people still wonder why companies need to pull folk’s credit files as part of consideration for hiring for some positions….
[/quote]

So there you go. There are consequences to people’s actions.

It’s up to each person to make the cost/benefit calculations.

Bill decided that it’s financially better for him to let the house go to foreclosure. It’s a business decision the same as a company filing for bankruptcy. Would you given credit to a bankrupt company? Many vendors do. They decide it’s better than losing a customer.

If you want to be angry, don’t be angry at those who lived by the rules.

Be angry at those who didn’t enforce the rules because they believed the market could self-regulate. There is only self-interest, self-regulation never works.

[jpinpb]

[quote=briansd1]Be angry at those who didn’t enforce the rules because they believed the market could self-regulate.[/quote]

And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.

[jpinpb]

[quote=briansd1]Be angry at those who didn’t enforce the rules because they believed the market could self-regulate.[/quote]

And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.

[jpinpb]

[quote=briansd1]Be angry at those who didn’t enforce the rules because they believed the market could self-regulate.[/quote]

And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.

[jpinpb]

[quote=briansd1]Be angry at those who didn’t enforce the rules because they believed the market could self-regulate.[/quote]

And I am of the belief that banks are in business to make money and were there no bailout, they would be eager to foreclose and sell the house to get somone in there who would pay. Rather than that happening, bailouts to banks and homeowners and even more people joining the others in not paying. Moral hazard out the window.

[Author]

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