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If those banks had to turn to the government to keep them afloat, and those banks played a large role in creating the problem in the first place, maybe you do?
by DmenshunlAnlsis 9y ago
If those banks had to turn to the government to keep them afloat, and those banks played a large role in creating the problem in the first place, maybe you do? Maybe not, but what you definitely don’t do is set up black boxes to take the heat for centuries of prejudice and mistreatment.
- whatshisface 9y ago> don’t [...] set up black boxes to take the heat I think I see now how we agree. This whole "algorithms" thing is a smokescreen over what is really just the AA debate: should institutions optimize purely for their own goals (in which case they would do nothing to help with old wounds, whenever ignoring them would be cheaper), or should they be expected to mix in social responsibility into their cost functions? Whether it's AI or a cunning but amoral banker, it's the same question.
- iguy 9y agoRight. And note that those banks who got bailed out weren't free-floating rational agents before the crash either. Because it was deemed politically desirable to increase minority home-ownership, they were given pressure / incentives to make AA loans.