But understand that the "P/C Effect" in the loan industry is just the remnants of the "LBJ Effect", and he’s in his grave laughing his ass off, right now.
I see it monthly in my business - if I make a bid to the US Air Force to do the grinding operations on the latest jet fighter landing gear, cross all the "t’s", dot all the "i’s", and get the RFQ in on time - I stand a snowball’s chance in Hell against the bare-bones start-up operation in Compton, owned by a one-legged black woman with explosive diarrhoea.
The government watches over the documents and the quotas like a hawk and punishes those institutions that don’t tow the line.
True enough, I see it everyday myself. We have an initiative out here this time around that would dismantle affirmative action in Colorado. I hope it passes. It's ridiculous that that I would have an advantage in a government bid process simply because I happen to have a uterus. I haven't even used the darn thing.