Re: Nice Planet 14: You People Make Me Sick
Yeah but DX's point is nothing can really be done with it that cant be fixed. The things that could come of it (and most likely wont) are just major amounts of identity theft. While that is a hassle that isnt going to cause a run on the banks and it certainly isnt going to cause a 2008 like crash. (unless the thieves use the info to rob the bank)
We dont live in a "cash" world anymore. To get things done you need to have some sort of credit or access to a bank account. While this is going to be a problem millions of people arent going to give up the ease of their banking lives and pull their money. Maybe if the banks were the ones hacked but Equifax? That has nothing to do with anything. I bet half the people dont know what Equifax is (or care) and the ones that do arent going to all of a sudden get rid of their car payments, house payments, credit cards and money market accounts just because they lost faith in 1 of 3 major credit bureaus. Even discounting the fact that doing so would be illogical the truth is people are lazy and they arent going to start hoarding cash in their house in large quantities over this because that takes a lot of effort. They arent going to give up their mobile banking and online billpay for it either. Maybe some farmers who hate banks will use this to reinforce their beliefs but no one living in a city or suburb is going to do anything, because they would have to uproot their entire lifestyle in order to do it.
Yeah but DX's point is nothing can really be done with it that cant be fixed. The things that could come of it (and most likely wont) are just major amounts of identity theft. While that is a hassle that isnt going to cause a run on the banks and it certainly isnt going to cause a 2008 like crash. (unless the thieves use the info to rob the bank)
We dont live in a "cash" world anymore. To get things done you need to have some sort of credit or access to a bank account. While this is going to be a problem millions of people arent going to give up the ease of their banking lives and pull their money. Maybe if the banks were the ones hacked but Equifax? That has nothing to do with anything. I bet half the people dont know what Equifax is (or care) and the ones that do arent going to all of a sudden get rid of their car payments, house payments, credit cards and money market accounts just because they lost faith in 1 of 3 major credit bureaus. Even discounting the fact that doing so would be illogical the truth is people are lazy and they arent going to start hoarding cash in their house in large quantities over this because that takes a lot of effort. They arent going to give up their mobile banking and online billpay for it either. Maybe some farmers who hate banks will use this to reinforce their beliefs but no one living in a city or suburb is going to do anything, because they would have to uproot their entire lifestyle in order to do it.
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