a trump administration officials are now joining together to call for changes to the credit scoring system. they say it s tainted by systemic racism and their studies that show that more blacks have lower scores than whites. lower scores. of course, as you know, mean a lack of access to credit or paying higher interest rates on loans, which contributes to a racial wealth gap. in an op ed for fortune magazine, king center ceo bernice king and ceo of ready life, ashley bell, say the algorithms and the underlying data that feed them have been corrupted by generations of systemic oppression and financial exclusion of people of color instead of removing race from lending credit scores have become a direct proxy for it. with me now to discuss his the articles co author ashley bell. ashleigh good to see you again. it s been a couple of years. let s talk about this proposal to as you say, abandoned the junk science of credit scoring
the conditions for a bank runthy because the more likely a bank run was, the more likelyuld gets that they would get that bailout for those tech startups on sunday night. s toso kudos to them for playing crony capitalism. well, that s exactly what they got done. but you think about this.can t yothu had a really good pointe a there.stro i can us way tt think of a more disastrous way to shake confidence than to call an here is emergency meeting on sunday night and say, here s a banka that we tolde was for the longt time was not systemically important. that itself claime,d that itgoin wasn t systemically important. but now we re goin cg to usealli a designation ofcall calling it systemically important to make a bailout to its depositors. so actually , i think that this is a game that is a downwarde march, just like s.g20. came ou of the 2008 financial crisis, central bank digital currencies are what sgo thi going to come out of this next one . and i think that thisan is something that eve
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