Ederik Schneider Online

Freedom or Totalitarianism

Freedom or Totalitarianism
Liberty or Death

Sunday, September 30, 2012

Reason Magazine: Gene Epstein- Too Big To Regulate: Dodd-Frank

Source: Reason Magazine- Gene Epstein-
Source: Reason Magazine: Gene Epstein- Too Big To Regulate: Dodd-Frank

"Too big To regulate", is generally a phrase that so-called Progressives use to make their case that big banks and the health insurance industry are too big to make work well, in their minds. That we might as well just nationalize them and turn them into new Federal agencies, including Fannie Mae and Freddie Mac. To go along with Bank of America to use as an example. But what Gene Epstein seems to be arguing in this talk, that the Doddd-Frank bill of 2010, the Wall Street reform bill is, too big to regulate, that it's impossible to understand. I disagree with that, but I would argue that Fannie and Freddie are too big to regulate and that they need to be broken up, not nationalize. But broken up into like 200 companies each and regulated as non-profit lenders and insurers of mortgages and perhaps other loans. But the fact is they are both still "too big to fail". And can't remain that way, while they are receiving tax dollars and are such a large part of the economy.