LETTER TO THE EDITOR: Credit score demands you borrow or you can’t get a loan

Published 2:10 pm Tuesday, February 28, 2023

Credit becomes an unbearable attribute when borrowing capability depends on continuing debt. Credit scoring is a federal requirement, insuring safe loans by this nation’s banks. Banks un-willingly signed on to Wall Street demands insuring national wealth. This of course is fantasy. Congress countermands all the Fed’s wealth insurance policies.

A major cause of bad credit would be the loss of personal income. Bad laws by our U.S. Congress support this allegation. NAFTA, mask mandate, Biden’s energy policy- and hundreds of other rules (not lawfully qualified) that diminish personal income.

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Banks are held to Federal policy dating back to 1929, insuring no loss of national wealth due to bank failure. But who’s watching our Congress, that destroys personal wealth. Isn’t that really what we’re talking about?

Best answer: Banks can lobby credit issues with the Fed’s. Banks know their depositors best. Allow this reference to a credit denial. A farmer with one million dollars of assets, unable to satisfy credit requirement, was denied a $5,000 personal loan. This Bank president told me, “I know this man but I haven’t been able to figure a way to loan him $5,000.”

Bottom line: You must Borrow! Borrow! Borrow!, or you can’t get a loan.

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Tom Rogers

Moultrie, Ga.