"See what happens when you don't have any regulations! We need more gov. regulation not less!"
The fact is that there are MANY laws and regulations on the books already that were ignored (Bernie Madoff comes to mind) and the regulations that were applied caused much of the problems in the mortgage markets.
“The fact is that there are MANY laws and regulations on the books already that were ignored (Bernie Madoff comes to mind) and the regulations that were applied caused much of the problems in the mortgage markets.”
As a thought experiment, I could imagine a new regulation possibly curtailing the problem. However, as others have pointed out, it wouldn’t have worked in practice because the housing market was doing exactly what the government wanted it to do. Are you telling me a lone SEC official would have stood up to all that.
Plus, the banking/finance industry is, in fact, the most regulated industry in the country. Funny how libs never explain that part. Oh, I forgot, we’re supposed to pretend the Fed doesn’t exist.