Lax Regulation: It’s not just for Republicans

Vikram Bath

Vikram Bath is the pseudonym of a former business school professor living in the United States with his wife, daughter, and dog. (Dog pictured.) His current interests include amateur philosophy of science, business, and economics. Tweet at him at @vikrambath1.

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10 Responses

  1. North says:

    Well sure, but on top of that it’s bipartisan. Everyone from affordable housing people on the left to big corporate finance on the right is in favor of this stuff which is what makes it so durable.Report

  2. James Hanley says:

    The mortgage exemption as written is opposed by … affordable-housing advocates

    There’s irony for you.Report

  3. Kim says:

    Oh no! Americans can’t afford to make an investment that they aren’t at all qualified to be making!
    The Horror!

    (Seriously, who the HELL makes a deal with five involved parties for a quarter of a million dollars, without a lawyer? — only your average joe shmuck.)Report

  4. Good post, Vikram. I think this does a great job of showing how little politics often has to do with principle and how much instead it has to do with serving the narrowly defined interests of constituent interest groups even as we deceive ourselves into thinking and talking as if we’re really serving a set of broad, coherent, and universal ideals.Report

  5. Dave says:

    Great post. There’s a whole other part to Mel Watt’s speech that I’m writing about as we speak. I guess I better get off my ass and finish it.Report

  6. Patrick says:

    “The real-estate-agent lobby might not like this, but Loan-To-Value ratios largely dictate the health of a mortgage.”

    Not only does the real-estate lobby like it, but all the mortgage lenders hate it; post-2007 nobody will buy loans at 3% down, because you can’t resell them.

    Except, now, apparently, to Freddie and Fannie.

    This is not good news.Report