Results 1 to 14 of 14
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01-26-2016, 08:04 AM #1
Is There An X-File for Banking?
https://www.linkedin.com/pulse/x-file-banking-isaac-d-stern
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01-26-2016, 08:47 AM #2
- Join Date
- Oct 2013
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Nice.
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01-26-2016, 09:31 AM #3
Is There An X-File for Banking?
I Want To Believe
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01-26-2016, 10:11 AM #4
cool reading Isaac.
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01-26-2016, 10:15 AM #5
- Join Date
- Oct 2015
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- NYC
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That was a great comparison Isaac. Its no secret people at the highest levels of power want to control who has access to capital.
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01-26-2016, 10:17 AM #6
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The next question is....Isaac are you Moulder or Skully?
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01-26-2016, 10:19 AM #7
Pretty sure Isaac is one of the conspiracy guys, plotting on how to take over the world.
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01-26-2016, 10:22 AM #8
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- Oct 2013
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See that's what he wants us all to think...but really he is the guy pulling the strings on the guys running the conspiracy by hiding in plain sight as either Moulder or Skully. That's a heck of a plot twist if I do say so myself.
In all seriousness though, this is a thoughtful article and I am so glad Im on the same side as Isaac.
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01-26-2016, 11:04 AM #9
I have seen the cigarette smoking man (or two or three of them) outside their office.
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01-26-2016, 11:27 AM #10
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01-26-2016, 11:39 AM #11
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- Oct 2013
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01-26-2016, 11:41 AM #12
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01-26-2016, 11:51 AM #13
- Join Date
- Oct 2013
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- New York, NY
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You're right, because he isn't "simple", not by a long shot, and he is not making a "buck" he put us all I na position to make BIG BUCKS! LOL.
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01-26-2016, 12:32 PM #14
- Join Date
- Sep 2014
- Posts
- 430
As someone that has worked as a regulator/auditor with OCC, FRB and FDIC, I can assure you there is no grand conspiracy. There are competitive pressures to capture market share, which are healthy and normal in an industry. Where the conspiracy creeps in is that there is high level of regulation, which lends itself to regulatory capture and the largest banks have the funds to lobby heavily for their interests. This also takes place in other industries, but when there is money involved it suddenly becomes evil and driven by conspiracy.
Scores like FICO are empirically proven to assess credit risk using a very large training sample over a very long time. If you want to crow about FICO holding people back, focus on credit education and not the big, mean banks and lenders that shut out lower credit quality applicants who have abused their credit history and creditors. Also, the marketplace lenders like Funding Circle, Lending Club, Kabbage, etc. are developing their own scores, but it will be years until they are as refined and predictive of credit risk as FICO given their current sample size.
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