Friday , November 16 2018
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Someone is wrong on the internet, consumer financial regulation edition

Summary:
It’s been just over a decade since the Great Recession officially began. Apparently that’s long enough for people who should know better to pretend nothing ever happened.Todd Zywicki, a law professor at George Mason University, says financial products aimed at American consumers should be regulated to prevent “unfair and deceptive actions”. His suggested reforms of the Consumer Financial Protection Bureau, however, do not appear to be informed by the experience of the past 15 years.A quick refresher:Most people can’t buy housing without borrowing large sums. This means small changes in credit supply — minimum down payment requirements, maximum debt-to-income ratios, minimum credit scores, etc — can have large effects on how much money can be spent on housing. Looser credit boosts the share

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It’s been just over a decade since the Great Recession

Matthew C Klein
I write about the economy and financial markets for Bloomberg View. Before that I wrote for The Economist. I have worked at the world’s largest hedge fund and read every FOMC transcript since May, 1987

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