Laugh Factory Owner Says He'd Consider Lifting Michael Richards Ban

Michael Richards' Laugh Factory ban could come to an end ... 'cause the owner's open to having him back -- if he's truly learned the error of his ways. Jamie Masada -- owner of the iconic comedy joint in Hollywood -- tells TMZ ... he booted the actor-comedian for good after his infamous 2006 rant at the club because he believes hate speech isn't acceptable, so Michael earned himself the ban for his racist…