Replies to post #375608 on Fannie Mae-No Politics (FNMA)

[Blushing green]

Politicians did not shut down Fannie Mae and Freddie Mac after authorizing them to pump trillions of dollars into the housing market to buy up subprime loans; instead, they buried the financial services sector under mountains of red tape just to pretend they’d solved the problem.

Great paragraph.

[Donotunderstand]

Upton Sinclair

The Jungle

regulations cost trillions

and how much do they save

child labor laws

fire codes (the good ones are still regulations)

car equipment requirements - recalls -

the list goes on forever

there are costs to regulations (like do not dump in Lake Michigan) and they run up to big numbers

but a lot of the time - we as a society are getting a pay back greater than the cost to business which yes reduces profit or maybe on the rare occasion means that costs are higher than otherwise