The problem, as I see it, is that airline security is akin taking away potential weapons as opposed to stopping criminals. Taking away guns and knives doesn't stop the street criminal from finding another weapon. Taking away scissors from a schoolyard bully doesn't mean he can't use his fists or a rock to achieve the same result.
Ultimately, we need to stop the criminals, and do it in a way that the "database" is not full of errors, but instead is accurate.
I'm doubtful that adding things like credit reports and such will result in higher, accurate hit-rates. For example, an insurance company raises rates to a 25-year customer of that company (who has had only one claim in 25 years) because the credit score showed "insufficient time since last consumer credit obtained". While researching the credit report, the customer discovers that MBNA issued a new American Express card to replace the Visa that the customer already held. As such, a new card number was issued and reported to the credit bureau as a new account. Or another example, do you become a greater risk as an airline passenger because you bought a new car last week on credit, with a similar "ding" on your credit score? Yet the guy who paid cash for his new car shows no increased risk.
Overall background checks have been proposed for the Registered Traveler program, but that hasn't gotten off the ground because some feel that it will offer "special" privileges for those who pay for the background checks. Yet the folks who pass the background checks are lower risk to the aircraft. Someone can have a TS/SCI clearance, yet still have TSA deem them a risk to the flight.
Identify the criminals.
