http://www.politico.com/story/2017/01/tr...ked-234365
So how the [BLEEP] does this make sense? The guise of helping small business is really a tool to deregulate. Putting this clause in is absurd. How can you defend it? What if one of the two regulations you take away is actually pretty helpful or important? Have we not proven as a nation we cannot deregulate without throwing our economy into turmoil?
Where are all the conservatives who were outraged every time Obama made an executive order? Trump is making one every time he passes gas. And his next one is going to be just as bad as this one.
Actually, the majority of market distortion comes from over regulation not under regulation. The housing crisis being the chief example.
This is a big win for the Trump administration. This is keeping a promise central to his promise of economic renewal. There is a reason that you see a drum beat of companies coming back to the country instead of leaving it for the first time in a long time.
As for the regulatory infrastructure. We were pumping out close to 70 new regulations a day under the last administration. The list had become so voluminous that it was impossible for any business to keep up. You can severely gut the regulatory structure on the books and still keep people safe and healthy.
The key provision is that for the next year, and forseeable future the annual increase in the cost of compliance is set at 0. At current, the cost of compliance is over a trillion dollars annually. That's more than 7% of our GDP. Cutting regulation and providing cost certainty to companies is going to be a magnet for foreign investment in our domestic markets and the kind of job creation that this country deserves #winning!
Quote:http://www.politico.com/story/2017/01/tr...ked-234365
So how the [BAD WORD REMOVED] does this make sense? The guise of helping small business is really a tool to deregulate. Putting this clause in is absurd. How can you defend it? What if one of the two regulations you take away is actually pretty helpful or important? Have we not proven as a nation we cannot deregulate without throwing our economy into turmoil?
Where are all the conservatives who were outraged every time Obama made an executive order? Trump is making one every time he passes gas. And his next one is going to be just as bad as this one.
EVERYTHING you disagree with is a win for the country. Do you see the irony in this?
Yes.. mortgage lenders approving a $750K ARM loan to a dishwasher at Chili's was because there was too much regulation.
The FCIC placed significant blame for the housing crisis on deregulation, reporting: "We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets. The sentries were not at their posts, in no small part due to the widely accepted faith in the self-correcting nature of the markets and the ability of financial institutions to effectively police themselves. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avoid catastrophe. This approach had opened up gaps in oversight of critical areas with trillions of dollars at risk, such as the shadow banking system and over-the-counter derivatives markets. In addition, the government permitted financial firms to pick their preferred regulators in what became a race to the weakest supervisor."
Quote:Yes.. mortgage lenders approving a $750K ARM loan to a dishwasher at Chili's was because there was too much regulation.
The FCIC placed significant blame for the housing crisis on deregulation
, reporting: "We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets. The sentries were not at their posts, in no small part due to the widely accepted faith in the self-correcting nature of the markets and the ability of financial institutions to effectively police themselves. More than 30 years of deregulation and reliance on self-regulation by financial institutions, championed by former Federal Reserve chairman Alan Greenspan and others, supported by successive administrations and Congresses, and actively pushed by the powerful financial industry at every turn, had stripped away key safeguards, which could have helped avoid catastrophe. This approach had opened up gaps in oversight of critical areas with trillions of dollars at risk, such as the shadow banking system and over-the-counter derivatives markets. In addition, the government permitted financial firms to pick their preferred regulators in what became a race to the weakest supervisor."
I scored a 98 on the mortgage brokers exam, what did u score?
Quote:I scored a 98 on the mortgage brokers exam, what did u score?
That's your argument? You scored well on a mortgage brokers test so it means deregulation wasn't a primary factor in the housing crash?
Quote:That's your argument? You scored well on a mortgage brokers test so it means deregulation wasn't a primary factor in the housing crash?
Not my whole argument, just an illustration old friend
Quote:Not my whole argument, just an illustration old friend
If that's the appetizer, I'm guessing the whole meal is gonna taste like [BLEEP].
More matter and less art.
You were about to make a point that indicated deregulation was NOT a primary factor to the housing crash and presumably were going to present information which would in some way counter the information I have provided?
(If your next response isn't herp derp schmerp word salad, I'm going to eat my hat.)
What is Fannie Mae?
What is the federal reserve?
If you have had any dealing with government regulation, you know this is an awesome idea! When time for independent reviews and inpection it is always borderline impossible to know if you are within regs due to the same verbiage being written 100 different ways in 100 different sources. This is a great form of cleanup.
Quote:What is Fannie Mae?
What is the federal reserve?
So.. as expected. No counterpoint to the valid point I made above that deregulation was a primary factor in the housing crisis.
Quote:So.. as expected. No counterpoint to the valid point I made above that deregulation was a primary factor in the housing crisis.
I'm establishing the baseline of your misunderstanding.
Quote:If you have had any dealing with government regulation, you know this is an awesome idea! When time for independent reviews and inpection it is always borderline impossible to know if you are within regs due to the same verbiage being written 100 different ways in 100 different sources. This is a great form of cleanup.
Forcing two regulations to be stripped for every neww regulation created is intelligent how exactly? You do not know ahead of time what regulations would need to be removed. Some of these are in place for very good reasons. We have proven time and again, when there are fewer regulatory checks shady [BLEEP] happens and the economy suffers. If this point is not valid, show me how.
I think it's an interesting approach.
I've had a lot of people tell me the economy is being held back because of too much regulation, and I always ask them, which regulations would they like to repeal, and I never get a specific answer. I think they're just regurgitating what they've been told by their thought leaders. I'm sure some business people have specific regulations they don't like, namely, the ones that apply to them, and they feel held back by having to comply.
Here's a nice list of specific regulations the Heritage Foundation thinks should be repealed.
http://www.heritage.org/research/reports...-eliminate
Here are 5 energy regulations the Americans for Tax Reform thinks should be repealed:
https://www.atr.org/top-5-energy-regulat...uld-repeal
I'd be willing to debate and discuss all of these. I agree that we should repeal
unnecessary and
undesirable regulations. I would never agree to any kind of sweeping repeal of thousands of regulations at once, however.
Just remember, one man's burdensome regulation might be protecting another man's property or fundamental legal rights.
Quote:Forcing two regulations to be stripped for every neww regulation created is intelligent how exactly? You do not know ahead of time what regulations would need to be removed. Some of these are in place for very good reasons. We have proven time and again, when there are fewer regulatory checks shady [BAD WORD REMOVED] happens and the economy suffers. If this point is not valid, show me how.
You don't read so well huh? I can't waste time responding to you when you are so outrage you gloss over everything. Quickly...redundant regulation, obsolete regulation, and regulation in a sector that may be unrelated. This new policy approach forces departments to actually scrub and know applicable regulation before trying to pile on another. Lastly, each time you install new regulation you force another large pot of money to be spent to bring up to the level. So recap...eliminate obsolete overregulation, save you tax dollars, improve efficiency. Terrible idea, right?
So... deregulation wasn't the primary contributor to the housing crisis? No oversight into the lending process whatsoever was good for America?
All I'm asking for is a simple response and I get deflection.
Quote:So... deregulation wasn't the primary contributor to the housing crisis? No oversight into the lending process whatsoever was good for America?
All I'm asking for is a simple response and I get deflection.
Deflection or you didn't hear what you wanted to hear? So playing your cherry-picking game, no regulation caused housing crisis. want to take a guess of what brought us out? That's right...review, eliminating, and replacing applicable regulation. Get it? FYI, this EO doesn't completely eliminate regulation like you have built up in your outraged mind.
Quote:No oversight into the lending process whatsoever was good for America?
What is Fannie Mae
What is the federal reserve
What is the common term for a hud-1
This idea is so fundamentally stupid... so naturally conservatives will love it.