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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 374.33

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Nov 18 4:00 PM EST

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To: Ilaine who wrote (21604)	8/25/2007 4:48:44 PM
From: Elroy Jetson	Read Replies (1) of 217860

In what way do you think Mortgage Brokers are unregulated by RESPA and other lending laws? They are regulated, but regulations for banks and non-bank lenders were loosened to "free the market" to create prosperity. Just because General Motor's Ditech subsidiary was willing to make loans for 125% of the value of your home with negligible documentation, doesn't mean they aren't regulated. When they intend to sell these loans (and the loan buyers don't care about these lapses in common sense because they believe real estate prices will only rise and never decline) should regulation prevent this? Both choices have good and bad aspects. Every time prudent banking regulations are loosened in the spirit of "freeing the market" ultimately really bad things happen. A recent example of this was Ronald Reagan's "deregulation" of the Savings and Loan industry through the "Garn - St Germain Depository Institutions Act of 1982". Prudent banking guidelines were developed over a very long period of time in many nations based on many lifetimes of wisdom. They ignored at your own peril. .

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