In December, all Reeflings went through the confesseurs process. As you know, our invaluable team of two confesseurs asked questions and came up with an evaluation expressed as Green (no issues, go ahead!), Orange (doable, but some obstacles to overcome) or Red (financial means are not adequate to the size of the unit the households wants to buy). This post is an explanation of the degree of transparency of that process. I offer it as a material for a possible plenary discussion.
At least for me, meeting with the confesseurs felt like meeting my own personal financial advisors. They had helpful hints about obtaining credit, for example, and they were preparing me to interacting with banks for doing so. Also, the meeting was confidential, between me and them. However, that is only a part of what was going on.
The other part is this: the confesseurs process is a mechanism to reduce uncertainty. Me going through a financial reality check is meant to reassure other people in the group that I am solid, and have the resources to make good on my commitment to go through with putting on the table my part of the financial resources to build The Reef. For this to work, the group needs to know each household’s score. I don’t see how the scores can remain confidential, and still achieve the reduction in uncertainty that we want. So, to summarize:
- The content of the discussion with the confesseurs remains confidential.
- Its result (Green, Orange or Red) is shared with the whole group.