A lot of this is also based on the difference from myself and other people. I borrow money like a public company borrows money. I borrow it to increase my earnings. Meaning, I use it to allow my capital to be put into more lucrative positions. The typical consumer borrows money to afford things they don't have enough capital to buy.

There's a sea of difference between those two viewpoints. A company is considered a large risk if it debt to equity ratio isn't equal weight or better. The average person on the other hand is leveraged on a magnitude of 6 to 10 on average. In short, no matter what your past credit history is, taking a loan that would take you ten years worth of earnings to cover is risky to put it mildly and it doesn't take a genius to figure that out.