Douglas Pratt's Techdirt Profile

Douglas Pratt

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  • Dec 29, 2009 @ 09:12am

    FICO destroys lives, and blights the American Dream

    My website, still in development, says it all. Follow the links at the bottom of the page to see how I predicted the explosion in foreclosures, bank failures, and even the downfall of Fannie Mae and Frededie Mac 10 years ago, all to be borne at taxpayer expense. Corporate greed and "lobbied" lawmakers have fed this monster for over a dozen years. In 2007 I lost my two homes, life savings, and entire net worth because despite 15 years of spotless credit history, I couldn't get a prime rate loan to restructure my debt load. The interest rates skyrocketed, and drove me under. Today I join the ever-burgeoning ranks of the destitute, as the lenders, FICO, and corporate greed continue gorge on the flesh of every one of us how ever takes a mortgage or uses credit cards, and the American Dream is transformed into the new American Nightmare. Fair Isaac is the architect, and corporate greed the builder, developer, judge, jury, and executioner. Welcome to the new America, folks!!