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Problem is that you don't know what the good regulations is because you don't know their consequences in the long run. Clinton wanted to allow people to afford
by ThomPete 8y ago
Problem is that you don't know what the good regulations is because you don't know their consequences in the long run.
Clinton wanted to allow people to afford and buy a home because he knew for many of them that was the way out. That's why he put out executive orders back in the 90ies under his National Homeownership Strategy where they introduced more flexible underwriting rules.
Among many other things he put out federal orders out and banks were required to allow people with questioble economic abilities to get approved.
So it's not that simple.
- dhimes 8y agoJust because a problem is hard doesn't mean we should abandon it. Maybe start with limiting the "instruments" available for <del>gambling</del> investing. Get rid of that one that bets on market volatility, for example (although that problem kind of solved itself as the investors in it lost their money).
- ThomPete 8y agoI don't remember to have said anything about us abandoning it. On the contrary, my point is that we should, in fact, try to understand it so we can do something about it instead of just pointing fingers at people in the very system that supports them.