Chill out! These idiotic regulations always appear only after the bubble bursts. Remember all the useless regulations that were created after the tech bubble? These government hacks are always one step too late. Why the hell didn't they do anything when the Dow was screaming out of control at 14,000? Spineless Jackasses!
You make a very good point. However, the past several years have been good times for many with property values and markets soaring so there has to be some ballance. I personally dont think the current climate has been that prolonged for people to complain at all. I mean, for example, we were all cheering a new high on some markets only a few short months ago!
Many fail to understand or even know why regulations, rules, standards etc are implemented in the first place. To simpy be brainwashed by watching FOX (faux) news and the constant drumbeat of "that" side of the aisle about dropping all regulations, rules etc and letting the FREE mkt do what is best for the few and screw everyone else is why we are in this situation in the first place. "SELF REGULATION" has not worked, will not work and never will work. Regs were not dreamed up, regs, rules, etc were inplemented to CORRECT mischievous practices in the past. Take away the regs and "BOOM" the children will be back to playing games. Anyone that fails to see or comprehend all of the damage from laxed oversight in the last couple of decades should look in the mirror and think about how silly the mantra about getting rid of regs is just plain silly. Markets have never really been FREE from the mischievous bad guys. Review mkt history and you will believe that regardless of what FOX jams down your throat. Am i in favor of more mkt manipulation from those in charge? NO, but i know it is real, has been and will continue. I do not buy the crap about more regs will send financials etc overseas. face it, we sold the sub-prime slim to others as well as swallowing our own bs. Truth be known many did not even understand what was being peddled as well as many just saw the returns etc and had no clue of what they were sinking into. Mkts in termoil are what daytraders in ES life for. this all has been almost a remake of the S&L crisis a couple decades ago. Different deal but same game. Before it was commercial properties in general from the elimination of REG"Q" and then the energy industry fell on bad times. Conti bank was loaded up on energy loans and that got the ball rolling...........Today the homes sold to "ungualified buyers" started this problem. Again same game different chips and monopoly money. Regulations are originally put in place to protect some institutions from THEMSELFS. Correct?
PS A thought about the mantra concerning "it will move overseas". Well gee whiz boys and girls, our industrial base has been moved overseas. We import everything in the past from cocktail umbrellas to luxury cars today so what seems to be the problem with sending all the financials away? GET THE PICTURE?
more regulation will hurt the markets no doubt, but might help curb the schemes that benefit only the big and powerful individuals or groups. is it passing power from 'market makers' to 'market regulators'.....do not know, but hope it helps the small investors who are the real force behind the markets.
This is a culminationof ultimate greed and intrigue that could only end this way. I heard this Thursday, and the fact that it happened this quickly means it is still horrible, and they expect more failures very soon. Levitt??????? Paulson?????????? These are people who enriched themselves with the system. Investor protection Levitt says? Give me a break. The SEC is so corrupt as to be laughable. How much is Paulson worth? He's that much smarter than you? He had the ulitmate platform. It is obvious Wall St. took us to the brink. Now, we all suffer, while the fruits of such deeds rest all over the Caribbean and Europe. What a country.
agencies use to compete with each other to offer the least regulation. you will now have a regulator who will act like a czar who will bend to the political/populist winds