Re: A few notes
Here are some more:
>I would like to see the data custodian acting as a fiduciary *on my behalf only*
On your behalf as a borrower presumably. If they can't act on their own behalf they they must be a non profit. So you are asking for a non-profit bank, or simply a bank with higher standards of data security?
Alternatively maybe you want these data custodians to be ratings agencies for individuals. However ratings agencies aren't held responsible for their recommendations and risk isn't an exact science so their recommendations are usually crap anyway. If the data custodian is forced to guarantee a loan they will probably only lend to very very safe borrowers and charge a high margin to cover when they get it wrong.
Their ability to rate borrowers is what makes each bank unique and why they offer different interest rates. If they can only offer loans to these indemnified borrowers then it's just a race to the bottom in terms of returns.
>An indemnified 'yes' to a loan will be picked up by somebody.
True, but what happens to people who want a loan but the data custodian refused to indemnify their loan? Is it because the borrower is too risky for a loan, or they are too risky for the data custodian, or the data custodian made a mistake or had a bad risk algorithm?
What if there is a lender who disagrees with the data custodian and is willing to take the risk on this borrower (or would if they knew the details/credit report)? You seem to be suggesting one large data custodian, if effect this is destroying the loans market and would result in increased rates for everyone.
>Unless you are engraving a name plate, you don't need my name.
Well someone needs your name, if this data custodian came into existence then no the bank wouldn't need your name, but the data custodian would.
>However, they do not expunge that data once they have made the determination.
They would need to keep your contact details, but the rest should not be kept. If it is their the data protection watchdog should give them a kicking.
Side note: Have you heard of zopa? Its a 'peer-to-peer' lending scheme here in the UK which appears to do what you are suggesting without the indemnity. They do credit checks on borrowers and split them into risk groups. Lenders then sign up and offer to loan money out to the groups at different rates. Lenders get better rates than at the bank, borrowers get better rates than at the bank. Zopa make a margin. People seem to like it as it identifies banks as a greedy middleman and bypasses them, but if a borrower defaults the lender loses out.
>The fact that anyone even thought to ask for people's facebook passwords as a condition of employment in the United States is cause for alarm.
This is a whole other thread, yes employers asking for facebook passwords is wrong (and if you give them over breaking the TOS). The simple answer is say no and work for a less creepy boss (hey I did say simple answer).
>They could not ask for it if it effectively did not exist.
True, but some people want to use facebook. Just because some dodgy employers are making unacceptable demands does not mean innocent people should have facebook taken away from them.
>I am mostly talking about the U.S. government, which has a huge sway over the rest of us.
>controlled export of encryption stronger than 64 bits
From what I understand this is a handup from old weapon export laws but isn't enforced.
>That effectively lowers your encryption to zero bits. Sounds like crappy encryption to me.
But only on a court order, which one would hope was carefully considered. Unless you are seriously suggesting law enforcement should never have access to any encrypted data. Could you imagine how badly this could be for society. On the other hand if it became too easy for 'them' to get private data it could be equally bad for society. (and I did say this was a broken law)
>The vast majority of creators would give up any right to copyrights or patents in a heartbeat if they understood what the trade meant. Give up a tiny trickle of income and gain access to all the world's art and music, science and literature and remove the 'IP' tax from goods and services -- not just for yourself, but for everybody.
If your sole income came from being a creator; authors, song writers (not necessarily performers), artists and computer programmers are a few examples that come to mind, then I bet you wouldn't agree to this. Lose your income but get other art etc for free, Great but you can't eat art.
Unless you are referring to a utopian vision where physical goods are free then this isn't going to fly.
What about a company that designs advanced computer chips, or any industry that take a huge investment to produce a new good. Are you seriously suggesting that anyone with manufacturing capability should be able to grab their designs and start selling?
Current copyright and patent laws are not perfect (to somewhat understate the situation) but what they are mean to do (protect innovators for a *limited* amount of time so they can turn a profit before their competition gets their innovation for free) is a fine goal.
>Re: Then create a project/product. Make it user-friendly and shout to everyone why they need it!
>I think you might be joking here, but if not: you can't trust me. If you need to depend upon me, then you don't really have that security.
Yes it was half tongue in cheek statement. More a dig at the open source believe that everyone can code and many eyeballs makes for safe code.
On a more serious note: above you were talking about someone acting as a fiduciary and that takes trust. So yes somewhere along the line you need to trust other people. You can't survive without it.
>My point is, unless you can do it yourself, you cannot be sure it is not compromised.
And unless you are the worlds expert on encryption (and cracking of) you can't have reliable security.
How do you write code? Because unless you wrote the compiler yourself...