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Re: Democratic National Convention 2012
Quote:
Originally Posted by Daseal
Slingin, this sentence contradicts itself. Lack of regulation in banking circles caused the mortgage crisis -- later you complain about over-regulation. You want the government to stick their head in and keep consumers from themselves when something goes wrong, but complain about overregulation? Pick one and stick to it.
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No contradiction if you understand the issues/problems.
It was not lack of regulation that caused the mortgage crisis. It was gov't interference in the mortgage markets that essentially forced the banks to underwrite shaky loans. When the GOP and even Bill Clinton came out prior to the crisis and said we need to put the brakes on here and get this under control....in a prudent way...the Dems (Frank, M. Waters, etc) said move along, nothing to see here, Freddie and Fannie are fine.
Jump to post crisis and knee-jerk regulations such as Dodd-Frank stiffle growth across all sectors of the economy.
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