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Forum Post: Oooops, Regulation Works

Posted 10 months ago on Dec. 23, 2013, 2:09 p.m. EST by shoozTroll (17632)
This content is user submitted and not an official statement

Along with so many other things the libe(R)topians don't want you to know.

"In the November 7th New York Times business columnist Floyd Norris writes about the conclusions of a study of a 2009 federal law intended to force down the hidden fees credit card companies impose on their customers:

When Neale Mahoney, an economist at the University of Chicago’s Booth School of Business, set out to evaluate the effect of that law, he was confident he knew what he and his colleagues would find: It didn’t work.

“I went into the project with this sort of conventional wisdom that well-intentioned regulators would force down fees and that other fees and charges would increase in response,” he told me this week, comparing hapless rule makers to the carnival visitors playing the game known as Whac-a-Mole, where a mole springs up somewhere else as soon as one is knocked down."

32 Comments

32 Comments


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[-] 3 points by GirlFriday (17435) 10 months ago

Once Mahoney persuades himself that government rules benefit society he might take the next step in his journey toward apostasy for a University of Chicago economist and go beyond regulation to explore government ownership. And here too he will encounter empirical evidence that upends his worldview that business outcompetes government. He will find, for example, that using government employees usually is more cost effective than contracting out to private firms. Government health insurance outcompetes private insurance companies. Government-owned water utilities have lower rates. Government owned prisons have lower costs and better safety. - See more at: http://onthecommons.org/magazine/stop-presses#sthash.GmBdnTEr.WA7Y68ez.dpuf

I'm not holding my breath.

[-] 1 points by shoozTroll (17632) 10 months ago

You'll surely turn blue, if you do.....:)

There are many things a government can do as a commons that work better than ANY private concern.

After all, they can easily reduce the system drag of profit to almost nill.

[-] 0 points by GirlFriday (17435) 10 months ago

Well, cause then he would have to face what has already been proven.

[-] 0 points by shoozTroll (17632) 10 months ago

There are many here on this site, who have long refused to admit that.

They are more likely to change the subject, or drag up threads from a year or two ago, than to provide any commentary on that simple truth.

[-] 1 points by GirlFriday (17435) 10 months ago

They aren't here for anything remotely close to truth.

[-] 0 points by shoozTroll (17632) 10 months ago

Welcome to libe(R)topia.

[-] 0 points by GirlFriday (17435) 10 months ago

I know, right?

It doesn't seem to coincide with the decentralization meme. Speaking of that decentralization meme, I think that either tonight or tomorrow that I will post on the libertopian darlings.

[-] 1 points by shoozTroll (17632) 10 months ago

This thread goes against the CATO meme, so please do post that.

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[-] 1 points by shoozTroll (17632) 10 months ago

LOL

"But his expectation was wrong. The study came to a conclusion that surprised Mr. Mahoney and his colleagues: The regulation worked. It cut down the costs of credit cards, particularly for borrowers with poor credit And, the researchers concluded, “we find no evidence of an increase in interest charges or a reduction to access to credit.”

The study…estimates that the law is saving American consumers $20.8 billion a year."

Libe(R)topians don't want anything to do with that, unless of course, they can part the consumers from that money.

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[-] 2 points by shoozTroll (17632) 10 months ago

They have a decided tendency to be for, that which most of the country is against.

They use marketing and double speak, where they need to pretend otherwise.

Here in Michigan for instance.

Every poll has said the people want the money out, Snyder uses double speak to pretend he didn't do the opposite.

http://www.eclectablog.com/2013/12/rick-snyders-said-it-did-it-mantra-unravels-as-he-signs-expansion-of-dark-money-in-michigan-elections-into-law.html

Duopoly my ass.

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[-] 2 points by shoozTroll (17632) 10 months ago

Many have become so inured to FLAKESnews style reporting, they can no longer discern truth.

They don't blink an eye at statements like this, anymore.

Gov. Rick Snyder said today he has signed a controversial bill doubling campaign donor limits and protecting the secrecy of “issue ad” donors.

"Although it includes a provision designed to thwart an effort by Secretary of State Ruth Johnson to reveal who pays for issue ads that have becoming increasingly influential in Michigan political campaigns, Snyder said in a news release the legislation will “bring an unprecedented level of transparency and openness to the state’s political system.”"

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[-] 1 points by shoozTroll (17632) 10 months ago

Make Snyder an Amway distributor?

His friend DeVos, would keep him set up.

I think Fuller Brush salesman would be more fitting. He can sell exclusively, door to door in Detroit, Flint and Jackson.

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[-] 2 points by shoozTroll (17632) 10 months ago

I knew that........LOL

You were thinking Kirby salesman..................................:)

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[-] 4 points by shoozTroll (17632) 10 months ago

The propaganda is so thick even those that like to post and quote Bernie, NEVER mention, that in practically everything he says, he mentions (R)epelican't obstructionism and their dismantling of what's left of our commons.

No, no. instead they will carry on with bullshit about a non-existent duopoly, or change the subject entirely.

No matter how much proof against it you can provide,it never affects what they say.

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[-] 3 points by shoozTroll (17632) 10 months ago

The last time I pointed out Bernie's truth's about (R)epelican'ts, subjects got changed and I was attacked.

The fact that they still run bots is a major clue as well.

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[-] 2 points by MattLHolck (16833) from San Diego, CA 10 months ago

I'm getting charged $7,000 this year for a student loan I can't pay

[-] 3 points by shoozTroll (17632) 10 months ago

It's an "industry" in need of regulation.

[-] 2 points by MattLHolck (16833) from San Diego, CA 10 months ago

number shuffling

industry should produce a product

debt is not a product

[-] 3 points by shoozTroll (17632) 10 months ago

That's why I put it in quotes.

They are self named as the "financial services industry".

Would you prefer I call them "services"?

For them, debt is the profit of their product.

[-] 2 points by MattLHolck (16833) from San Diego, CA 10 months ago

call them "financial privilege services"

[-] 2 points by Builder (4202) 10 months ago

It's odd that you can walk away from a house mortgage, but you can't ever lose your student loan.

[-] 1 points by MattLHolck (16833) from San Diego, CA 10 months ago

property is the real value

[-] 0 points by shoozTroll (17632) 10 months ago

Technically, they're called assholes.......................:)

I'm one of those pinko's that think education should be gratis.