[quote=N.D.]

Free Markets are like wild animals and need a certain amount of oversight. The best example I can give of a free market would be prostitution and drug dealing. Both are completely transparent and all risks are known but truly a "wild animal."

The Free Market needs oversight to domesticate the "wild animal" and drive the markets to the greater good of the entire economy. Too much regulation and you will stunt growth to little regulation and you will get you hand bit off. The problem with regulation is you cannot have a "tame" market and maintain the position as the only superpower in the world. If we over regulate our economy we will be surpassed by those that do not. This country would be better served be guiding the economy and stop trying to control the economy.

[/quote]

Agreed. Perhaps all of the BS we are enduring from the would-be controllers will make us stronger. In this profession, ironically, fewer competitiors. Like the market today, more days, weeks and months with the economy and markets drifting in fear and uncertainty seems to be good for killing the weeds, if you can survive the fire. A good time to go to the beach.

Try Mark Levin for news.....

I warned you.

Now Owebama the divider and Owebama the cheater is circumventing the law and fairness (just like he did with reconciliation on Commiecare) by bypassing senate confirmation to appoint this idiot.

Write this down, FINREG  (3000 pages of total bs) and this consumer red tape bs agency end badly.  They will bloat like dead fish rotting on the shore.   

 This will create so much bs govt paperwork and mindless regulations that, of course, WILL NOT WORK.

America isnt stupid.  Owebama is a nothing.  He contradicts himself a million times a day.   USA saw through it.

Nov 2nd cant come quick enough

This trick will bite him because now there is NO chance this loser gets senate approval.   

god bless the tea party.   

god bless free markets

god bless paul ryan

F the Baracracy

Editorials

Saturday, September 18th 2010, 4:00 AM

What is this, Hamlet on the Potomac? To be the first head of the government's brand-new Consumer Financial Protection Bureau, or not to be the head of same?

That is the question that must be asked of President Obama and Elizabeth Warren, his kind-of appointee to the job.

Warren is the Harvard law professor who formulated, in the midst of the American financial crisis, the whole idea of a consumer watchdog agency. She is the darling of the left and anathema to the right.

Getting her through Senate confirmation shapes up as a bear of a fight for Obama. So yesterday the President got too clever by half, at once conveying wobbliness and fueling charges of high-handed partisanship.

With great fanfare, Obama said that Warren will recruit staff and initiate policies for regulating mortgages, student loans and other consumer credit products. Except, ah, she won't actually lead the agency.

After Warren recruits staff and initiates policies, she might pick someone else to head up her creation. She's the "architect," not the builder, says the White House.

But when an agency is being created from scratch, turned from legislative language into actual living, breathing bureaucracy, the architect is the builder. The person who has the power to create the policies should be approved by the Senate.

Those are the rules, Mr. President. No?

Regulation is not always bad. Sometimes it's needed.

Free market advocacy is anti-pragmatic. 

[quote=iliketennis]

Regulation is not always bad. Sometimes it's needed.

Free market advocacy is anti-pragmatic. 

[/quote]

The Truth in Lending Act (TILA) is a United States federal law and designed to protect Consumers in credit by requiring clear key terms of the lending arrangement and all costs.[1] is legal in Title I of the Consumer Credit Protection Act, as amended (15 U.S.C. § 1601 et seq.). The regulations implementing the statute, which are known as "Regulation Z", are codified at 12 CFR Part 226. Most of the specific requirements imposed by TILA are found in Regulation Z, so a reference to the requirements of TILA usually refers to the requirements contained in Regulation Z, as well as the statute itself.

The sole purpose of TILA is to promote the informed use of consumer credit, by requiring disclosures about its terms, cost to standardize the manner in which costs associated with borrowing are calculated and disclosed. TILA also gives consumers the right to cancel certain credit transactions that involve a lien on a consumer's principal dwelling, regulates certain credit card practices, and provides a means for fair and timely resolution of credit billing disputes. With the exception of certain high-cost mortgage loans, TILA does not regulate the charges that may be imposed for consumer credit. Rather, it requires uniform or standardized disclosure of costs and charges so that consumers can shop. It also imposes limitations on home equity plans that are subject to the requirements of Sec. 226.5b and certain higher-cost mortgages that are subject to the requirements of Sec. 226.32. The regulation prohibits certain acts or practices in connection with credit secured by a consumer's principal dwelling.

you're right.   why dont we write a regulation like the one here.

 this will stop the abuses and could avert the subprime crsis.

oh,wait.  this is a law.  this is the truth in lending law of 1968.  this is part of the 456 pages of BS you get and dont read when you close.

how that regulation work for you?

finreg is 3000 pages of total bs.

the only regs that work are hard and fast limits.    

reg whatever: you can only margin stocks 50%

how about my reg to make sure subprime never happens again.  

you ready?  

you need 20% cash down payment to purchase a home.

next

WTF does anti-pragmatic mean?