IIRC the relevant discussion was started by this:
http://thread.gmane.org/gmane.comp.version-control.git/13856
Basically, if you just want a shared repository, you don't need to set the
umask. However, if you want to work in the working directory (multiple
users), you have to set the umask (it is not enough that the git tools do
that, because you are likely to work with other programs as well).
Hth,
Dscho
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