1qaboutecs
Joined 10 months ago
Joined 10 months ago
Three years ago this would have taken a minimum of three college graduates a couple days -- one to know the math, one to know the backend, and one to know the front-end. Maybe two of those could be the same person on a good day -- none of the topics is individually that hard -- but it's a lot together.
Note that from the lender's perspective, the risk is the same and in a perfect-information universe could be mitigated by charging higher interest. The problem for society is the externality that the business's services get worse.
I'm supposed to put out a job advertisement (but the job isn't real) for my employer. If an applicant passes the interview process, I don't have to hire that person (I probably can't - I don't have budget or permission from the organization). But I do have to honestly say if they have all the required skills -- I'm not permitted to say "wouldn't be a culture fit."
Nor do I have to fire my employee. But maybe my employee won't get a green card six years down the road.
1) Do I have any details wrong here? The one time I talked to a law firm about this they more-or-less refused to state the above outright, but answered all questions in this direction. 2) Doesn't this seem disrespectful to, among others, the applicants to the fake job?
Plenty of contracts benefit both parties but are bad for society as a whole, and if the government pre-signals which sorts of those contracts it will refuse to enforce, this is good for society.