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Death By A Million Regulations
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rjones2818
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rjones2818,
User Rank: Strategist
8/15/2013 | 7:48:29 PM
re: Death By A Million Regulations
And who gets to decide if a regulation is out of date, etc.?
Shane M. O'Neill
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Shane M. O'Neill,
User Rank: Author
8/15/2013 | 7:15:13 PM
re: Death By A Million Regulations
I understand we needed rigid oversight after the subprime meltdown. But these regulations are so inflexible. I was eventually able to refinance with a local bank that keeps the loan in-house (hence can bypass Fannie-Freddie rules). But I didn't get close to the rate of a traditional loan.
mjensen810
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mjensen810,
User Rank: Apprentice
8/15/2013 | 7:06:56 PM
re: Death By A Million Regulations
Thank Dodd-Frank and the Consumer Finance Protection Bureau. It is protecting consumers by making it nearly impossible for them to get a mortgage!
MyW0r1d
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MyW0r1d,
User Rank: Strategist
8/15/2013 | 6:54:19 PM
re: Death By A Million Regulations
It is difficult to defend senseless government involvement and often contradictory regulations, however, ...
As long as there is a never ending stream of Dr. Fata's (allegedly prescribed chemo to patients without cancer) or Conrad Murray's or Bernie Madoff's or Lehman Brothers or the JP Morgan $2 billion loss on "egregious mistakes" as described by Bloomberg Press, just to name a few, I feel little pity for regulation and oversight. These industries have only theirselves to thank for the situation.
mjensen810
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mjensen810,
User Rank: Apprentice
8/15/2013 | 5:59:23 PM
re: Death By A Million Regulations
And if you think it is bad in the medical profession, try banking!
Shane M. O'Neill
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Shane M. O'Neill,
User Rank: Author
8/15/2013 | 5:33:07 PM
re: Death By A Million Regulations
Mortgage regulations are horrible. I could not refinance for the rate I wanted and QUALIFIED FOR because of a Fannie Mae/Freddie Mac regulation that does not apply to my condo building at all yet has to be enforced. It was a year ago and I'm still angry.
RobPreston
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RobPreston,
User Rank: Author
8/15/2013 | 2:50:55 PM
re: Death By A Million Regulations
Got a regulation or two you'd like to see killed? We'd like to hear about it here.
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