From: "Attila T. Hun" <attila@hun.org>
Date: Fri, 6 Feb 1998 13:24:02 +0800
To: Jim Choate <cypherpunks@cyberpass.net>
Subject: Re: New Credit Rating System Coming [CNN]
In-Reply-To: <199802060405.WAA04465@einstein.ssz.com>
Message-ID: <19980206.045903.attila@hun.org>
MIME-Version: 1.0
Content-Type: text/plain



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on or about 980205:2205, in <199802060405.WAA04465@einstein.ssz.com>, 
    Jim Choate <ravage@ssz.com> was purported to have 
    expostulated to perpetuate an opinion:

>                       NEW CREDIT RATING SYSTEM ON HORIZON
>                                        
>      graphic February 5, 1998
>      Web posted at: 2:38 p.m. EST (1938 GMT)
>      
>      NEW YORK (AP) -- Within months, retailers will be able to use a new
>      computerized credit-rating system to decide not only whether they'll
>      take your check or debit card, but how big a check you can write.
>      
>      Banks will be able to use the system to determine whether they will
>      let you open a checking account, and what kind of fees you will pay.
>      
>      Deluxe Corp., the nation's biggest check printer, has joined Fair,
>      Isaac & Co., a credit scoring company, and Acxiom Corp., a data
>      warehouse, to create the system for rating a merchant's risk of
>      accepting checks and debit cards.
>
    so where is the First Virtual Bank of Cyberspace? let's get crackin'

    basically, this says I can not write a check against an available
    balance that has not been overnight posted. when TTI (transaction
    technology), a CitiBank division in Santa Monica, started working on
    the ATM implementations in the mid-70, all the last, bad crop of hired
    guns were contracting --they were paying 50-80/hr _then_ for high
    end --we all took there money and speculated that eventually there
    a) would be no cash; and b) checks would be castrated --or, if you
    did not have plastic, you did not eat as big brother wanted to know
    what you had for dinner--  yup, sounds just like cybercredits --except
    for the audit trail fed directly to the IRS who precomputed your tax
    for you-- and took it out of your account with or without your     
    permission.

    well, how close are we getting to what those of us working on it in
    the mid-70s feared?

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