VIP TREATMENT….Via Hilzoy, Elizabeth Warren alerts us to a new film called Maxed Out, which promises to take us on “a journey deep inside the American debt-style, where everything seems okay as long as the minimum monthly payment arrives on time.” Warren points out this fascinating little tidbit from the movie:
Did you know, for example, that while you need to sweat out your credit report, the credit bureaus keep a special “V.I.P.” list of prominent citizens whose reports are specially tidied up so they look cleaner than they really are? If the big boys never experience the harassment or increased costs of a credit ding, then they are a lot less likely to insist on more legal oversight. There are many ways to lobby, and this one requires no reporting at all.
Why no, I didn’t know that ? though I can’t say that I’m surprised. It’s just one more way in which congressmen and other VIPs are shielded from the aggravations of the real world.