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Most people do not have the time it takes to stay one step ahead of the corruption on the markets.
Why would there be market corruption if the government is not allowed to regulate the market and their sole job is limited to catching the lying, stealing, and cheating?
The government regulateing the market is the root cause of all corruption. Remove that, the rich and powerful would have no incentive to bribe the government officials.
Why would there be market corruption if the government is not allowed to regulate the market and their sole job is limited to catching the lying, stealing, and cheating?
Isn't your position one where the government is imept? If so, how do they catch the lying, stealing and cheating?
Quote:
The government regulateing the market is the root cause of all corruption. Remove that, the rich and powerful would have no incentive to bribe the government officials.
That is what happened in 2008. For the "rich and powerful" it's never enough.
Isn't your position one where the government is imept? If so, how do they catch the lying, stealing and cheating?
That is what happened in 2008. For the "rich and powerful" it's never enough.
What happened in 2008 was precisely because of government regulations. If the government didn’t force banks to make subprime mortgages, would the whole thing even happen?
What happened in 2008 was precisely because of government regulations. If the government didn’t force banks to make subprime mortgages, would the whole thing even happen?
No one was forced to do anything. It was a quid pro quo.
“7] The Act mandates that all banking institutions that receive Federal Deposit Insurance Corporation (FDIC) insurance be evaluated by Federal banking agencies to determine if the bank offers credit (in a manner consistent with safe and sound operation as per Section 802(b) and Section 804(1)) in all communities in which they are chartered to do business.[3] The law does not list specific criteria for evaluating the performance of financial institutions. Rather, it directs that the evaluation process should accommodate the situation and context of each individual institution. Federal regulations dictate agency conduct in evaluating a bank's compliance in five performance areas, comprising twelve assessment factors. This examination culminates in a rating and a written report that becomes part of the supervisory record for that bank.[8]”
Last edited by lifeexplorer; 12-24-2018 at 06:09 PM..
Would a rational and greedy banker lend to any subprime applicants without government regulation and bailout?
The bankers lend to the subprime applicants because they know the government would bail them out should anything happened. And it did.
They did it to get regulations softened. Both sides were corrupt. We should have tarred and feathered them.
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