Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (582986)	8/27/2010 12:55:22 PM
From: TimF	Read Replies (2) of 1576417

Where did I say that? Message 26780133 The disclosure statements are there to prevent fraud. A lot of them are. That doesn't mean they are a good idea. Good intentions != good results. Give someone 30 pages of contract terms and disclosures for a credit card application (I was shocked to here that it went that high, but then I haven't gotten a new credit card in years), or an unbound book for a mortgage application, and you just cause people to not be able to take it all in and understand it. They are more likely to miss what's important than they would be if the disclosure requirements (both directly imposed by regulation, and indirectly imposed by the actions of the court system) where less extensive. The absolutely vital disclosures should fit in a page or so for normal credit applications, and even for a mortgage they need not be more than several pages. Provide this and people might actually be able to understand the important points. Give them dozens of pages of legalese and you'll probably just confuse most people, or bore them to the point where even though they are signing on for a large debt they only skim through most of the paperwork, if they even do that much.

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