Too Big to Fail 2.0: This Time It’s Personal Finance and Just About Everything Else
Posted by admin | Posted in Finance | Posted on 03-09-2009
Tags: Chugs, Fart, Nick Gillespie
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As the one-year anniversary of TARP chugs into view, Reason.tv’s Nick Gillespie sat down with Reason Foundation policy analyst Anthony Randazzo to look at the next round of comprehensive financial regulations being crafted in Washington, DC The short version? Get ready for government oversight of just about every burp, hiccup, and fart in the economic system, from payday loans to “systemic risk.” Three major proposals are high on President Barack Obama’s fall agenda and if pending …
Content by Alvisa Rizky
Content by Joomla Developer
Nope and I’m screwed if I violate them, my fault, the information was there.
Content by Alvisa Rizky
Big government = jobs for the dweebs.
Content by Book Store
glennd7962, Rates were only that low because of the Federal Reserve. Otherwise, the rates would reflect the amount of savings in the economy, meaning rates would be much higher, because banks don’t have as much to lend.
Content by Drink Hot
Simple if you get food poisoning or one of the products malfunction, and harms you, they will get sued out of existence, and even if they don’t because their a huge company the word of the mouth of their bad products will destroy them. Government doesn’t make products any safer, anyone with half a brain knows this, we need deregulation not over-regulation like we have now.
Content by Angel Ponsel
“I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.-Thomas Jefferson
Content by Angel Ponsel
Of course there is predatory lending, do you folks really think we should completely deregulate? how much time must all of you have to explore the safety of your food, your buildings, your car, planes you fly on, etc. Government can be an effective referee and needs to be.
Content by Angel Ponsel
there is also no u in team.
Content by Angel Ponsel
You know nothing about derivatives and shouldn’t speak about them. The fact is that the CFMA of 2000 took the lid off of the ability for financial institutions to engage in vast speculation in the credit markets, the modern equivalent of the “bucket shops” that gave us the stock market crash of 1907. We need good regulation of the derivatives market – we haven’t had one to date. I was in the derivatives business for 10 years and everyone there knew they were going to blow up the world someday.
Content by Home Decor Zine
Great Viedo! There is no private enterprise that is too big to fail. The bailouts were the biggrest fraud in the history of the world. We in the USA are like the passengers on the Titanic. The course was set over 40 years ago. The iceberg was hit and ship is listing and the band is playing while we dance and enjoy our drinks. But the end is clear to those that think.
Content by Alvisa Rizky
have you read all the EULAs for all the software applications on your computer?
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It is not the failure of the school system, ultimately it is you signature on the dotted line if you don’t understand what the contract says DON’T SIGN IT, if enough people refuse to accept overly complicated contracts companies will simplify them and until then research, research, research.
Content by Drink Hot
I agree that too much of the blame was place on the lenders, but don’t put all the blame on the borrower either; it was a team effort!
there is no I in team
also, how many borrowers were educated in our failed public school system?
Content by Drink Hot
these companies were NOT too big to fail!
They did fail!!!
these companies were too big to LET fail in the opinion of idiots who don’t understand the market and don’t want to.
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Drew Carry perhaps?
Content by Book Store
The guest speaker is rather good looking too. I guess the age of ugly old economists is ended.
Content by Fun Joomla
Perhaps we should blame the “greed” of the political class then.
Content by Fun Joomla
Indeed. People who believe in “predatory” lending are the same kind of idiots who believe that “greed” caused the crisis.
Content by Drink Hot
It is futile to try override the market.
Content by Joomla Developer
They gave out risky loans because of the implicit promise by the federal congress reimburse the banks if the loans went bad. So yes they made bad loans on purpose.
I worked at local bank who were making these loans so I am in a position to know. We sold 100% of them to countrywide because we knew they were bad and made a crap load of money doing it.
Content by Book Store
Whoo689 1) Plentey of conservatives are under 40 2) We are EXTEREMELY against new deal crap
Content by Alvisa Rizky
Whoo689 and the companies didnt want to give out risky mortgages, Just think “Fanny and Freddy” and ACORN, go look up what thse 2 monster have done to housing industry
Content by Book Store
You mean all those people who founded the Libertarian Party? Uh no.
Content by Home Decor Zine
I mean, all this bitching about firms like Countrywide giving out “predatory” loans is just absurd! Do you REALLY think Countrywide wanted to ensure its own demise by giving out excessive risky loans?? Come on! It’s called self-preservation, and corporations do all they can for it. The only way around it is if gov’t forces their hand. I highly doubt the guys at the banks running things REALLY wanted to give out a whole bunch of new mortgages to real risky borrowers. It defies common sense.
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On economic issues, I cannot understand why the Democrats ALWAYS treat the “poor” or working class as unsinnable. They can do no wrong, according to guys like Obama. If a person making 30 grand a year took out a loan for a 200 grand house, it’s “not their fault”; the bankers “deceived” them into thinking they could afford it.
Fannie and Freddie “aren’t unnecessary”, they’ll say. They did a GREAT job of expanding homeownership, so “great” that the gov’t had to re-take them over.
Content by Book Store
One thing I CANNOT stand is these damn lefties whining about “predatory” lending, as if it’s IMPOSSIBLE to prevent stupid people from taking out stupid loans and being too stupid to read the fine print. There’s NO SUCH THING as predatory lending; you’re just a moron. End of discussion. They need to stop scaepgoating idiots who bought too much house or took out loans they couldn’t pay back. The corporations were not to blame for the housing crisis. Gov’t's homeownership schemes did it.