“was a law to make it more difficult for banks to violate the laws that they have already been found guilty of violating.”
Foreclosure should be more streamlined; not less. Every new law you pass only passes on costs to everyone else.
The Dodd Frank stuff is only just now starting to hit. Fees are going up, more paperwork, etc. It may very well not allow many first time homebuyers to buy a home.
The reality is that most mortgage lending excesses were corrected a year or so into the financial crisis. The market spoke then and took out lenders such as Countrywide and WAMU.
More laws only benefit attorneys, politicians and those who want something for nothing. As is the normally the case; the rest of us are sent the bill.
I’m tired of paying.
Tell that to the people in California under this law, who are not being thrown out their home while that home sits empty.
Generally, I agree with you that we have way, way to many laws. In most cases repealing bucket loads of laws is the favorable course of action. This particular laws seems to have had an immediately positive effect on families wanting to get by day to day in the home they have been paying for without it being taken away by a bank that has been found guilty of numerous crimes, which they don't have the personal resource to pursue a lawsuit against.
It sounds like you have been a little embittered by the likes of some of the occupy wall streeters. I was at a place where they had set up a booth last year. I went over to have a conversation with them. With my just calmly asking questions mostly, and occaisionaly interjecting a few thoughts, they went rabid mad. I know the guy wanted to punch me. He was clearly very Marxist. Socialism, is an enemy. But Neidermeyer is right, you need to distinguish between corporate exploitation, and free enterprise. It is not socialist to oppose greedy illegal behavior. That occupy wall street guy was adamantly opposed to the idea that someone should be able to profit from the fruits of their labor, especially if they are too successful. That is an evil concept. We are not advocating that here.
The reality is that most mortgage lending excesses were corrected a year or so into the financial crisis. The market spoke then and took out lenders such as Countrywide and WAMU.
It also seems like you have missed a lot of stories about the crimes the banks have been committing in this area.