The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: grusum who wrote (259963)	7/11/2010 10:30:33 PM
From: Reilly Diefenbach	Read Replies (2) of 306849

I've been researching the 1930s lately with regard to the railroads and the ICC. The ICC was heavily involved in all areas of the railroad business. Its rules were complex, it acted in a heavy handed manner and it was, it seems to me, fairly unaccountable. It was a bad regulator, possibly in part because its mandate was never updated to match the times. "Regulation" in the form of simple, straight-forward rules that are easy to enforce, say like "Thou shalt not mix investment and commercial banking" ala Glass-Stegall easily accomplish their intent. It makes it a lot easier for both an industry and the regulators themselves when rules are kept simple. We aren't likely to get simple rules with the level of regulatory, legal and bureaucratic capture we currently have in Washington. The best we can hope for is a couple of thousand pages of legislation that no one understands and no one reads before it gets voted on.

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