Re:Congress Approves First Big Dodd-Frank Rollback
by mikec3010 on Wednesday May 23, 2018 @11:31AM
(#17134947)
>And the overall solution is to allow them to fail next time
Then pass a regulation barring the US from ever giving another "bailout". In the aftermath of '08 those corporations played the US like a fiddle to get their billions of dollars in free loans because "our whole financial system could collapse if you dont". Why wouldn't they play this game again, perhaps even more brazenly than last time?
Re:Congress Approves First Big Dodd-Frank Rollback
by TooBrokeToBeg on Wednesday May 23, 2018 @12:01PM
(#17135211)
> Regulations exist so that entrenched players can use the lethal force of government to block new challengers.
That's not how it appears to everyone. That's often how they are crafted, but this is not a problem with the concept.
Re:Congress Approves First Big Dodd-Frank Rollback
by JoeAltmaier on Wednesday May 23, 2018 @10:04AM
(#17134246)
There's actually a middle ground - EPA requirements, food and safety. True, most of the good ones end up repealed...
Re:Congress Approves First Big Dodd-Frank Rollback
by sp332 on Wednesday May 23, 2018 @10:10AM
(#17134294)
At least bail out the victims instead of the perpetrators.
Re:Congress Approves First Big Dodd-Frank Rollback
by hackeraccount on Wednesday May 23, 2018 @11:39AM
(#17135016)
Just that. My own view is that regulations are antithetical to competition. Sometimes regulations are necessary but it's not true that they come without a cost.
Regulations exist so that entrenched players can use the lethal force of government to block new challengers. Never quite as blunt as I put it, but that is the threat backing all the actual outcomes.
And the overall solution is to allow them to fail next time. Don't fix it, let it crash and burn. Stop socializing the losses since the profits were privatized.