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Those laws were passed because of cultural values that are widely shared. You make it sound as if bankers would prefer racist policies if only the law would all
by inimino 10y ago
Those laws were passed because of cultural values that are widely shared. You make it sound as if bankers would prefer racist policies if only the law would allow it. GP's point is that even though most bankers do have such high-minded motivations, regulation is necessary to avoid bad actors from gaining a competitive advantage in a race to the bottom.
- powertower 10y agoHow is lending based on all qualifying factors a race to the bottom?
- inimino 10y agoBecause to discriminate on some of those factors would sacrifice certain cultural values, such as equality and a fair shot for everyone, which we happen to value more highly than any marginal increase in lending efficiency.
- pvg 10y agoI'm not making it sound like that, that was precisely the case. Hence the laws.