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All-In [46801]
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What concerns me the most about the regulation EO
Feb 1, 2017, 9:25 AM
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If you look back on almost every financial/economic crisis in America, it all came after a substantial deregulation of that market.
One of the best examples is the Great Depression: Glass-Steagall Act to increase regulation due to limited regulation which *helped* bring about the GD. This was also repealed before the Housing Crisis of 2008.
Edit for clarification: Either a substantial deregulation, or not having any regulations in place to begin with i.e the .com bubble.
Message was edited by: FBCoachSC®
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CU Medallion [73569]
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i would disagree on the housing
Feb 1, 2017, 9:31 AM
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I know there are a million theories on this on all spectrums, but I see this was caused by this:
His most successful effort was to impose what were called "affordable housing" requirements on Fannie Mae and Freddie Mac in 1992. Before that time, these two government sponsored enterprises (GSEs) had been required to buy only mortgages that institutional investors would buy--in other words, prime mortgages--but Frank and others thought these standards made it too difficult for low income borrowers to buy homes. The affordable housing law required Fannie and Freddie to meet government quotas when they bought loans from banks and other mortgage originators.
Some regulation are good, but overall I feel regulations kill innovation, investment, and most importantly kill small business.
I just feel we are wayyyyy over-regulated.
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All-In [46801]
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And I agree that we need some regulation to prevent
Feb 1, 2017, 9:35 AM
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bubbles and protect consumers and the environment. I'm just worried at as the Republican he (supposedly) is, he will deregulate too much leaving room for bubbles and market crashes.
Also, the housing crash came about predominantly by banks making risky investments, selling CDO's, bundling CDO's with trash ratings and still being propped up by the credit agencies.
Message was edited by: FBCoachSC®
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CU Medallion [73569]
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the one question i have on the EO is
Feb 1, 2017, 9:38 AM
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it states for every 1 new regulation, you have to get rid of 2.
Who will say which 2 and how will that work? Will it be within the same industry as the new 1?
I admit I didnt read the EO, just the summary
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All-In [46801]
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Very good question.
Feb 1, 2017, 9:58 AM
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And could the two being removed make the one being added pointless?
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Lot o points [155707]
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wait, wut?
Feb 1, 2017, 9:32 AM
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You think that crises came after deregulation, so you're concerned about the EO's increased regulation? Wat?
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All-In [46801]
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Trump's EO's decrease regulation
Feb 1, 2017, 9:34 AM
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which I then gave some examples of how deregulation leads to bubbles and eventually market crashes.
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Lot o points [155707]
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Some do, some don't.
Feb 1, 2017, 10:07 AM
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I'd say the TPP EO will actually result in multiple new regulations that stem from the elimination of a trade agreement that sought to deregulate trade between the member countries.
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Orange Blooded [3590]
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The basic premise is incorrect. Regulation does not prevent
Feb 1, 2017, 10:05 AM
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bubbles.
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All-In [46801]
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explain.***
Feb 1, 2017, 10:10 AM
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Orange Blooded [3590]
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Prior to the Great Depression, the Federal Reserve
Feb 1, 2017, 10:13 AM
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was created to regulate. What started as a normal recession evolved into a depression because the Federal Reserve regulated the supply of money. In the wrong direction. For years.
One example.
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Oculus Spirit [93618]
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It was a decade wasn't it?***
Feb 1, 2017, 10:52 AM
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All-In [38514]
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What's stupid about the regulation EO is...
Feb 1, 2017, 10:44 AM
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that it addresses nothing of substance about the regulations. For each new regulation 2 existing regulations need to be removed. What does that even mean? Sounds like window dressing rather than substance.
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Oculus Spirit [93618]
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Hm, I thought it was to ###### the brueaucrats efforts...
Feb 1, 2017, 11:00 AM
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to make internal changes which effect the public. I doubt it was intended to exercise control over the legislators but it might send the signal not to waste their time increasing the number of regulations.
They kinda have Trump bent over a barrel with their unwillingness to approve his nominations and leaving Obama's guy to run things.
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All-In [38514]
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But the new regulation could encompass the 2 removed.
Feb 1, 2017, 12:04 PM
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It doesn't really mean anything.
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Oculus Spirit [93618]
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It might do exactly the opposite.***
Feb 1, 2017, 12:50 PM
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110%er [7191]
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It's about quality not quantity man...
Feb 1, 2017, 11:40 AM
[ in reply to What's stupid about the regulation EO is... ] |
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Can't we just get rid of regulations with bad outcomes without worrying about the number of regulations on the books?
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All-In [38514]
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Exactly. Could add regulation that affects all while
Feb 1, 2017, 12:06 PM
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removing 2 regulations that affect few.
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Orange Blooded [4959]
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I think it's done on a cost basis.
Feb 1, 2017, 11:47 PM
[ in reply to What's stupid about the regulation EO is... ] |
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So that for every dollar a new regulation costs the economy, an agency has to find two dollars of regulatory costs to repeal.
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