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JackDawson: What is your opinion of the finance reform bill? Good idea or not?

Posted by Fuzzy (aka mrfuzzy) May 21 '10, 08:27

To me it is a necessary evil. Too many people have proven themselves incapable of self-regulation in terms of accepting far more debt than they can carry and as Znu referred to on b2, there were plenty of mortgage brokers willing to capitalize on that fact.

With that said, most of the provisions I've read about sound like they will work as intended. It is unfortunate that we have to set up (and pay for) yet another government agency, and I think that will further complicate banking regulations with yet another oversight body. I would like to see them consolidate the banking oversight under a single entity. But this struck me as a reasonable attempt to address some of the issues that caused the mortgage meltdown.

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- Hey, this is largely what I've been hearing too. - Dr.Vermin May 21, 08:59

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JackDawson: What is your opinion of the finance reform bill? Good idea or not?

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