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.


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