BoatBanter.com - View Single Post - There's just nothing quite like capitalism

HK

wrote:
On Thu, 31 Jan 2008 07:44:45 -0500, HK wrote:

There was a recent foreclosure court case in Ohio, I believe, that was
dismissed because the bond/fund holders suing for foreclosure couldn't
prove that they owned the mortgages.

I read about that one, it was worth a giggle. There's little question
the mortgage business needs to be regulated as it once was.

I think that once that story gets around that part of the mortgage
problem will self regulate. Fund investors will demand more
accountability about where their money is going.

Self regulation is the "Bush" approach, and either results in no
regulation at all or incompetent regulation. Chinese toys, anyone? Or
how about prescription drugs that are manufactured in China and sold
here, without factory inspections? How about the lack of inspection of
food? Self-regulation is little more than PR.