Dear People Scared Of The (Big) Government

[camberiu]

So remind me again why we have an economic crisis in Europe and the US, wasn't that because of minimal regulations in lending?



You might find this video helpful.

http://youtu.be/7ZpJeHN0_gw

 

[JamJam]

Hmmm some valid points there but the argument against regulation doesn't really stand up.

 

[camberiu]

Hmmm some valid points there but the argument against regulation doesn't really stand up.

So, when he says that the financial system has 10 thousand pages of regulation, and the results of the "cost of compliance" is too big to fail, please tell me how exactly that does not stand up.

 

[JamJam]

So, when he says that the financial system has 10 thousand pages of regulation, and the results of the "cost of compliance" is too big to fail, please tell me how exactly that does not stand up.

It does not matter how much regulation you have if its the wrong type of regulation.

 

[JamJam]

So this might be an over simplification but would we be in this mess if there was a bit of regulation that said, 'Don't lend to people who can't afford it'?

 

[camberiu]

It does not matter how much regulation you have if its the wrong type of regulation.

I see, so now it is not the "lack of regulation", but the "quality of the regulation". Got it. And what entity created the shitty regulation again? The one that was 10 THOUSAND pages long and allowed for "too big to fail"?

 

[camberiu]

So this might be an over simplification but would we be in this mess if there was a bit of regulation that said, 'Don't lend to people who can't afford it'?

And based on who's criteria? Who is this all knowing, independent, unbiased, incorruptible, infallible entity that determines who can and can't afford loans?

 

[JamJam]

And based on who's criteria? Who is this all knowing, independent, unbiased, incorruptible, infallible entity that determines who can and can't afford loans?

Just goes to show you can't argue with idiots.

 

[MikeMike]

> We cannot be left to our own devices. We need laws to protect ourselves from ourselves. That’s what the government does.

There is no "government". Government is a collection of the same fallible individuals that you speak of. If "we" (individuals) are incapable of protecting ourselves, then "we" (government) are incapable of protecting others. Individuals frequently do both good & bad things. Same w/ the government. Yes, the government enforces child labor laws. Yes, the gov't also holds people in prison w/ out charge or trial, including torturing them, etc.

We do not need more government, we need (as a society) values that engender "doing the right thing" as often as possible.

 

[Dublin2BuenosAires]

And based on who's criteria? Who is this all knowing, independent, unbiased, incorruptible, infallible entity that determines who can and can't afford loans?

Are you seriously trying to argue that over extension of credit wasn't a cause of the housing bubble? Seriously?