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Pay1Day.com Reports Subprime Mortgage Collapse Leads to Tightened Financial Regulations for All
May 22nd, 2010
Currently our Senators are debating the creation of a stand-alone government agency to protect American consumers from the aftermath of another subprime mortgage collapse. This proposed agency (CFPA) would be regulating and overseeing a vast breadth of financial agencies, most of which have no ties to our economic crisis. Because of this it seems that companies that had absolutely nothing to do with the subprime mortgage collapse would be "penalized" for the alleged actions of Goldman Sachs by facing new regulations, which many fear would lead to new business and legal costs forcing some businesses to close their doors.
Opponents of the CFPA claim that not only are they...
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Source: Investment Weekly News (2010-05-22)