gbaji wrote:
We've got some politicians who for some strange reason have chosen this moment to go on a "***** the banks" spree.
For "some strange reason"? Have you been following any kind of news during the last 12 months? We're in the middle of the greatest financial crisis since the 1930s, I think that's a decent enough reason to tighten regulation on banks.
Quote:
But he's doing more of what got us into this mess in the first place: Pursuing a "feel good" populist policy of helping the poor folks, by imposing additional costs and/or loss of profit on the financial industry.
That's not what got us into this mess in the first place.
Quote:
An already struggling financial sector will be saddled with yet another profit-reducing set of regulations.
Good. Making money by ******** poor people should not be a viable business model anyway.
Quote:
It just looks to me like yet another action by the Left designed to give the appearance of helping the little guy, while actually doing very little to help them (or even hurting them), with the main change being yet more strict regulation on our free markets.
I'm glad we're tightening regulation. I think we should tighten it a lot more. The financial market needs some oversight, accountability, and transparency. This system where banks could get gigantic profit by creating imaginary money knowing full well they would be rescued by the state should they fail was pretty disgraceful. It's only purpose was to make the banks richer, and it couldn't even do that on the medium-long term. It's not something I think we should go back to.
Quote:
No one forces you to charge stuff on credit. No one forces you to accept the terms of said credit cards. I just don't agree with the idea of the government restricting the actions of the people "for their own good".
It happens all the time. Why are drugs illegal? Why are pyramid schemes illegal? Why is there regulation around unfair trading and terms? People will make bad, irrational decisions under certain conditions. Some people create those conditions or take advantage of them in order to exploit individuals and make a profit. It seems fair not to allow this kind of behaviour. That's not what "the market" should be about.