Category Archives: Regulation

Britain Revamps Mortgage Lending Rules

Mortgage lenders in Britain will soon have to verify the incomes of all people taking out mortgages according to new regulations suggested this week. I don’t get it. Why would lenders need to be regulated in this way? Lenders have … Continue reading

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Regulating The Regulators Of Our Financial System

It’s been a year since Lehman Brothers went bankrupt. What has changed in our regulation of such financial firms? Very little. Crazy incentives induced by government regulation created a financial collapse. Perverse incentives caused lenders to lend money to people … Continue reading

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Democrats Considering Shielding Banks From Tougher State Laws

The Washington Post reports that Democrats are considering a bill “to shield big banks from potentially tougher state regulations of credit cards, mortgages and savings accounts.” This approach differs from that of President Obama. He wants to give states a … Continue reading

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Fed Keeps Short-Term Interest Rates Near Zero

Most economists expect inflation to jump as the federal government must finance enormous deficits, theoretically crowding out private businesses in the struggle for loans. Though economic activity is no longer declining, it’s not advancing much either. A shaky economy prompts … Continue reading

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Waiting To Modify A Mortgage

A large number of home owners are getting foreclosed on while they try to arrange a modification to their home loan. The New York Times reports on home owner frustration with banks who are slow to modify loans. Many home … Continue reading

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Paperwork Avalanche Overwhelms Refinance Applications

Politicians talk a lot about plans to modify mortgages so fewer people default, but these plans depend on so much paperwork, that few people are having success with them. The Obama administration came up with a $75 billion program to … Continue reading

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Dennis Prager: A Low Regulation Philosophy Did Not Cause Our Subprime Debacle

Dennis says on his radio show today: “Prager H1: You think our banks are in bad shape? They look rock solid next to the banks of Europe, especially Eastern Europe… Climate change skeptics meet in New York… If Islam is … Continue reading

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FDIC Revamps Proposal

Report: The Federal Deposit Insurance Corporation (FDIC) proposed on Friday to spend $24 billion of the $700 billion bailout package to help 1.5 million households avoid foreclosure. This new plan is a mild deviation from the FDIC’s $40 billion incentive-based … Continue reading

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Conservatives Shocked That Markets Weren’t Adequately Regulated

Here’s a chortle from the liberal Detroit Free Press: A paragraph from a Friday cbsnews.com story on former Federal Reserve Chairman Alan Greenspan says it all: “Greenspan…said that he and others who believed lending institutions would do a good job … Continue reading

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The Good News In The Recession

Liberal newspapers relish the prospect of more government regulation of the financial markets. They trust governments more than markets. They want governments to have more money and power. The Hartford Courant editorializes: Next to the breathtaking gyrations on domestic and … Continue reading

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