Y are these enforceable homelending rules necessary?Is unregulated capitalism possible anymore bec of greed?

Question

backdrop: I know I don't trust the people in the banking and housing industries anymore. I stopped trusting the car industry people long ago! We can't telll who is honest anymore. Why?

Fed poised to curb shady home-lending practices By JEANNINE AVERSA, AP Economics Writer

1 hour, 21 minutes ago

Confronted by record foreclosures, the Federal Reserve is ready to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis.

Chairman Ben Bernanke and his central bank colleagues were expected to approve a plan Monday that would crack down on dubious lending practices that have hurt many of the riskiest "subprime" borrowers — people with tarnished credit histories or low incomes.

Proposed rules made public in December would:

_restrict lenders from penalizing risky borrowers who pay loans off early.

_require lenders to make sure those borrowers set aside money to pay for taxes and insurance.

_bar lenders from

Answer 1

You are totally dreaming.. this is nothing like the depression.. times are still good.  We just have a bunch of people who expect to much and dont want to do anything as far as working.  What do you think Bush had to do with the housing thing or the economy as far as that goes.. Congress and the Senate make all of the laws...all any President has ever done is sign and approve legislation they passed or veto it..d**n where have you been.  If you want to blame some one.. blame greedy companies for wanting to make too much money and greedy consumers for wanting more than they can afford... they are both at fault...Bottom line is if the greedy consumers didnt want more than they could afford no one would be trying to sell  the products... We have no one to blame but ourselves..

Answer 2

rob_n_tux is right on & you ,as usual, have been humiliatingly repudiated. At least you've blocked everyone who could care!