Dodd-Frank is an abomination of a bill. Wonder why there is little money circulating in your community. It is Dodd-Frank which imposes huge burdens on local, community, and regional banks. It also has multiple regulations which inhibits lending to companies and individuals to the point of hardly any loans getting issued. Multiple agencies regulate the same financial firms setting a diabolical scenario for these industries.
Make the regulation that of one that protects people who work hard, and borrow responsibly so that our homes will have value again.
Right now nothing works, especially because all of those buyers who couldn’t afford the houses they bought under the “no money no problem” loans, let their homes go, our homes are worth 1/2 of what they should be and we are stuck with no equity anymore.
If the old loan regulations were not removed or were adhered by, this conversation would not be taking place.
Good one Lou. I wonder if Treasury is going to crack down on insider trading by Congressmen and Senators. That has been going on a long time and these politicians have gotten ultra rich since they have the info way ahead of time to get their buys and sells in.
You are correct. You are referring to the Stop Trading on Congressional Knowledge (STOCK) Act, a law passed last year designed to prevent insider trading among lawmakers and government officials by requiring them to post disclosures of their financial transactions online.
Both parties and both houses of Congress hated the disclosure portion of the law so much that it was repealed in April 2013 without debate—the measure was sent to the president by unanimous consent. The ordeal took about 10 seconds in the Senate and 14 seconds in the House, according to official records.
Dodd-Frank is an abomination of a bill. Wonder why there is little money circulating in your community. It is Dodd-Frank which imposes huge burdens on local, community, and regional banks. It also has multiple regulations which inhibits lending to companies and individuals to the point of hardly any loans getting issued. Multiple agencies regulate the same financial firms setting a diabolical scenario for these industries.
Make the regulation that of one that protects people who work hard, and borrow responsibly so that our homes will have value again.
Right now nothing works, especially because all of those buyers who couldn’t afford the houses they bought under the “no money no problem” loans, let their homes go, our homes are worth 1/2 of what they should be and we are stuck with no equity anymore.
If the old loan regulations were not removed or were adhered by, this conversation would not be taking place.
Good one Lou. I wonder if Treasury is going to crack down on insider trading by Congressmen and Senators. That has been going on a long time and these politicians have gotten ultra rich since they have the info way ahead of time to get their buys and sells in.
Agent, I thought I read that a bill addressing insider trading by members of of both houses of Congress was receently passed and signed into law.
You are correct. You are referring to the Stop Trading on Congressional Knowledge (STOCK) Act, a law passed last year designed to prevent insider trading among lawmakers and government officials by requiring them to post disclosures of their financial transactions online.
Both parties and both houses of Congress hated the disclosure portion of the law so much that it was repealed in April 2013 without debate—the measure was sent to the president by unanimous consent. The ordeal took about 10 seconds in the Senate and 14 seconds in the House, according to official records.