Death By A Million Regulations - InformationWeek

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Death By A Million Regulations
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RobPreston
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RobPreston,
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8/22/2013 | 9:53:16 PM
re: Death By A Million Regulations
Perhaps there's hope. Some food for thought on WSJ.com (subscribers only): http://online.wsj.com/article/...
RobPreston
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RobPreston,
User Rank: Author
8/19/2013 | 6:37:41 PM
re: Death By A Million Regulations
If we're just out to stick it to the "annoying profit sink-holes," let's not take down the good with the bad. As mjensen810 states above, "the innocent get pilloried along with the guilty." Let's crack down on the bad actors, not everyone in a given industry.
Michael Endler
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Michael Endler,
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8/17/2013 | 5:57:51 AM
re: Death By A Million Regulations
I sympathize with this point of view. Many regulations are, as Rob effectively illustrated, a quagmire of jurisdictional questions, redundancy, and overall b.s. But there's a problem: some companies look for any absence of regulation they can exploit.

It's almost like some companies know laws will be written later to outlaw their activities, so they figure they have to maximize their bad behavior while it's still legal. It's that gray area where "ethical" and "legal" start to separate from one another. The garbage with Goldman Sachs trying to affect aluminum prices is a recent example of this sort of thinking.

And when the companies get punished, the fines are never enough to appease public disapproval. If you make the mistake of parking in the wrong space in San Francisco and your car gets towed, the penalty you'll pay to get your car back is more severe, in relative terms, than what many fines related to the financial crisis have been. It's no wonder people have, as Rob pointed out, a natural affinity for more rules, more regulation and - so they hope - more protection. When companies so often do things that make people think, "Someone should stop that!", calls for more regulation are difficult to avoid.
RobPreston
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RobPreston,
User Rank: Author
8/16/2013 | 1:08:56 PM
re: Death By A Million Regulations
Where's the Like button on Comments?
Thomas Claburn
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Thomas Claburn,
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8/15/2013 | 8:17:09 PM
re: Death By A Million Regulations
The entire tax code needs to be revised. Ideally, it should fit into 140 characters. Here's 33: All income shall be taxed at 15%.
RobPreston
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RobPreston,
User Rank: Author
8/15/2013 | 8:12:45 PM
re: Death By A Million Regulations
Ah, excellent question. A committee of the good and great? I was half joking.
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.
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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