Financial “Reform”

The biggest causes of the economic crisis include regulations mandating lending to those unable to afford mortgages, the role of Fannie Mae & Freddie Mac in fueling these mortgages, and loose monetary policy from the Federal Reserve.

Do the new financial regulations passed this week address these problems?  Yeah, right.

As Mark Calabria points out, the authors of this “reform” are the same architects of the policies described above that led to this financial mess, and their solution is even more federal distortions.  And as Peter Suderman explains, the “too big to fail” philosophy that led to the bailouts is now enshrined into law.

Your tax dollars at work.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: