Quote:
Originally Posted by Shaun 84 Targa
Moderation via innovative federal regulation is key.
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Financial innovation is what got us here in the first place. We need less 'innovation' and more common sense.
Before we aspire to regulate, we need the ability to identify imbalances and dangers in the marketplace. The Federal Reserve has shown little ability in identifying the looming problems in the housing market, so I'm not confident they have the ability to regulate properly. After all, how can you eliminate a problem, if you can't see it?
I would feel much more confident if the Treasury proposal required review of spectacular information sources like the "More Bad RE News" thread. Some of the folks who complain about the current mess are the same folks who denied the existence of a housing bubble. Hey, dude, pull up your pants, step away from the HELOC, and get with the program!!!