At 02:11 PM 4/15/01 -0700, Ray Dillinger wrote:
Tim;
One thing to consider is the role of "credit histories", or virtually any other identity-linked information, in a milieu where the people have access to the necessary techniques and programs to do those deals.
You sell Alice a credit history on Bob; Bob takes a new identity; Alice is back to square one. Why would Alice buy credit histories?
Because it decreases her risk when lending, ie, increases her efficiency. Evolution is about efficiency.
For that matter, why would anyone loan money in the first place? What credit histories could there possibly be?
Bear
Because the service of Carol the CreditHistoryLibrarian is much cheaper than making loans without that service, both Carol and the lenders can exist. Lenders don't lend to folks without CreditHistory. Any train of thought that concludes that bankers can't exist is wrong somewhere.