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Thread: Regulations at 'Lowest Count Since Records Began Being Kept in the Mid-1970s'

  1. #21
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    Quote Originally Posted by zelmo1234 View Post
    Do you have a specific regulation that you believe will poison the earth? Just what has he done that is going to cause great damage?
    @zelmo1234 I was mocking the inevitable liberal replies, I would think Peter and Captdon, knew that.
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    Captdon (01-07-2018)

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    Quote Originally Posted by Boris The Animal View Post
    Let's hope not. Bipartisanship and compromise just means Conservatives kowtow and step and fetch for the Left.
    Not necessarily. We at least seemed to be heading in the same general direction no matter who was in power. Feels like we have been spinning wheels since at least 2008, probably closer to 2005/2006.

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    Peter1469 (01-07-2018)

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    Quote Originally Posted by Crepitus View Post
    You are assuming that these people will think a less regulated market is more dangerous. I think they will feel safer with less regulation. I think they currently worry about running afoul of government regulators more than anything else.
    You're wandering away from the point. What are you more likely to invest in, a gamble where you might lose everything or a sure thing where you can't lose? The sure thing is what regulation tries to provide. You can't lose. But you never really gain because you suffer no consequences if you decide wrong.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by Chris View Post
    You're wandering away from the point. What are you more likely to invest in, a gamble where you might lose everything or a sure thing where you can't lose? The sure thing is what regulation tries to provide. You can't lose. But you never really gain because you suffer no consequences if you decide wrong.
    You are wrong. Regulations don't ensure you can't lose, they make it harder for people to rip you off either by intention or negligence. Remove thse regulations and how long before some is selling "repackaged securities" to over eager investors?
    "Sir, I exist!" cried a man to the Universe.
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    Quote Originally Posted by Crepitus View Post
    You are wrong. Regulations don't ensure you can't lose, they make it harder for people to rip you off either by intention or negligence. Remove thse regulations and how long before some is selling "repackaged securities" to over eager investors?
    You are wrong. Dead wrong. There are laws against murder, right? And yet murders happen. You're confusing punative law with regulatory law that assures people their investments are safe because the government will bail you out. Such laws encourage malinvestment. Such laws led to the Great Recenssion.

    Remove the laws and you'd return to a time where reputation mattered.

    Perhaps though, since you so readily say you'd see rip offs, cheating, theft, etc, that is what you would do?
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by Chris View Post
    You are wrong. Dead wrong. There are laws against murder, right? And yet murders happen. You're confusing punative law with regulatory law that assures people their investments are safe because the government will bail you out. Such laws encourage malinvestment. Such laws led to the Great Recenssion.

    Remove the laws and you'd return to a time where reputation mattered.

    Perhaps though, since you so readily say you'd see rip offs, cheating, theft, etc, that is what you would do?
    Deregulation of banks led to the financial crisis, why would you think that deregulating them again would be any different?
    "Sir, I exist!" cried a man to the Universe.
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    Quote Originally Posted by Crepitus View Post
    Deregulation of banks led to the financial crisis, why would you think that deregulating them again would be any different?
    False again. Deregulation had nothing to do with banks or housing. There were regulations in place that everyone trusted and so malinvested.
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Here you go, crep: The Political Implications of Ignoring Our Own Ignorance

    ...Regulators, too, fell victim to the combination of cognitive hubris and radical ignorance. They believed in the quality of bank risk management using the new tools.4 They also believed in the effectiveness of their own rules and practices.

    A common post-crisis narrative is that banking was de-regulated in the Reagan-Greenspan era. Some pundits make it sound as if regulators behaved like parents who hand their teenagers the keys to the liquor cabinet, leave for the weekend, and say “Have a good time.” In fact, regulators believed that they had stronger regulations in place in 2005 than they did in the pre-Reagan era.

    —Before 1980, mortgage loans held by banks were illiquid assets subject to considerable interest-rate risk. These problems were alleviated by the shift toward securitization.

    —Before 1980, insolvent institutions were opaque because of book-value accounting. This problem was addressed with market-value accounting, enabling regulators to take more timely corrective action to address troubled institutions.

    —Before 1980, banks had no formal capital requirements and there were no mechanisms in place to steer banks away from risky assets. This problem was addressed with the Basel capital accords (formally adopted in 1988), which incorporated a risk-weighted measure of assets to determine required minimum capital. In the 2000s, these risk weightings were altered to penalize banks that did not invest in highly rated, asset-backed securities.

    Thus, it was not the intent of regulators to loosen the reins on banks. On the contrary, from the regulators’ point of view, it was the environment prior to 1980 that amounted to leaving the teenagers with the keys to the liquor cabinet. The post-1980 regulatory changes were believed to be in the direction of tighter supervision and more rational controls.

    ...
    Edmund Burke: "In vain you tell me that Artificial Government is good, but that I fall out only with the Abuse. The Thing! the Thing itself is the Abuse!"

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    Quote Originally Posted by Chris View Post
    False again. Deregulation had nothing to do with banks or housing. There were regulations in place that everyone trusted and so malinvested.
    I and others disagree.

    https://m.huffpost.com/us/entry/82639
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    Quote Originally Posted by Chris View Post
    That is a minority view, and seeks to explain away reasonable conclusions like regulatory failure simply for the purpose of encouraging a lax regulatory atmosphere.
    "Sir, I exist!" cried a man to the Universe.
    "However," replied the Universe, "that fact has not created in me a sense of obligation."

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