1996-12-10 - Re: Redlining

Header Data

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
To: cypherpunks@toad.com
Message Hash: ddc5315547087a2e4a98fe96ff5fcdfcf672534a85363149af4504a4f4502b60
Message ID: <sDiqyD106w165w@bwalk.dm.com>
Reply To: <Pine.SUN.3.94.961210090234.4477A-100000@polaris>
UTC Datetime: 1996-12-10 20:02:44 UTC
Raw Date: Tue, 10 Dec 1996 12:02:44 -0800 (PST)

Raw message

From: dlv@bwalk.dm.com (Dr.Dimitri Vulis KOTM)
Date: Tue, 10 Dec 1996 12:02:44 -0800 (PST)
To: cypherpunks@toad.com
Subject: Re: Redlining
In-Reply-To: <Pine.SUN.3.94.961210090234.4477A-100000@polaris>
Message-ID: <sDiqyD106w165w@bwalk.dm.com>
MIME-Version: 1.0
Content-Type: text/plain

Black Unicorn <unicorn@schloss.li> writes:

> > That, essentially, is what a bank is.  I do not believe the government
> > should dictate which people you, or your bank, are allowed to lend to.
> Create a bank where the identity of the customers are unknown and you
> solve the redlining problem.

Supposedly in redlining the bank discriminates based not on the race of the
loan applicants, but on the location.  If they're unwilling to lend money
to buy a house in a "bad neighborhood" at the same interest rate they use
in a "good neighborhood", then chances are that they don't look at the
identify (race, income, etc) of the customers - only at the address.

I hope you're not suggesting that a bank should accept a house as collateral
without knowing there that house is. :-)


Dr.Dimitri Vulis KOTM
Brighton Beach Boardwalk BBS, Forest Hills, N.Y.: +1-718-261-2013, 14.4Kbps