Fwd: Reputation capital

Tim May tcmay at got.net
Wed Dec 5 08:07:47 PST 2001


[Retransmission. Due to periodic problems with lne.com, I started 
sending my messages to ssz.com a few days ago. Alas, ssz.com has had an 
outage. Hence these retransmissions. Sorry for any dupes.]


Begin forwarded message:

> From: Tim May <tcmay at got.net>
> Date: Tue Dec 04, 2001  08:56:01 AM US/Pacific
> To: cypherpunks at einstein.ssz.com
> Subject: Re: Reputation capital
>
>
> On Tuesday, December 4, 2001, at 05:28 AM, Marcel Popescu wrote:
>
>> I think all this stuff about reputations is being solved pretty neatly 
>> by
>> the credit bureaus... up to getting scalars on people / companies.
>>
>> Mark
>>
>
> This is naive. Credit bureaus handle only a particular class of 
> reputations, certain types of credit-worthiness, and then with 
> well-documented deep flaws:
>
> -- regulation by government
>
> -- "Fair Credit Reporting Act" forbids them from "remembering" certain 
> classes of defaults and welshings
>
> -- lack of competition (the Three use the same precise standards)
>
>
> If you are rejoining the discussions after a long absence, you need to 
> get up to speed.
>
>
>
>
> --Tim May
> "The Constitution is a radical document...it is the job of the 
> government to rein in people's rights." --President William J. Clinton
>
>
--Tim May
"That government is best which governs not at all." --Henry David Thoreau





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