Should greed be regulated?

Today America faces a dire problem in the banking system, $1 trillion in adjustable interest rate mortgages are due to increase next year and many homer owners will default on these loans. This could lead to Americans across the nation losing their jobs as capital dries up and the USD loses more value.

This happened because greedy bankers got together with greedy borrowers who wanted more than they could afford.

The home loan industry is different than any other industry in America. In no other instance can greedy businessmen and greedy consumers combine to create financial problems that will effect all Americans.

Given that greed is one of the 7 deadly sins, I am surprised that conservatives, who heavily depend on religious values, don%26#039;t see the need to regulate home loans more closely to insure loans can be repaid.

What do you think? Should greed be regulated?

Should greed be regulated?mortgage rate

Your question, and the point it poses is so very well worded...

I don%26#039;t think you could regulate greed outright, but that is such an intersting take on the sub-prime mortgage crises. Seriously, I had not heard it put like that yet, and it is very well received by me!

It%26#039;s a market activity. I have a degree in Economics, and there%26#039;s one thing that was a constant throughout my studies, and that is that people are not always rational, and that irrational decisions factor into market activity. Infact, it%26#039;s one of the primary things that make markets so hard to quantify.

It%26#039;s not about republicans! It%26#039;s not about regulations! It%26#039;s all about the markets... it%26#039;s easy to think %26quot;regulate%26quot; when you%26#039;re on the cusp of a major market correction, markets ain%26#039;t always pretty! They%26#039;re pretty much an organic force, determined by organic creatures and their irrational or %26quot;best quess%26quot; decisions. It%26#039;s human nature to want more... more equals greater comfort, greater safety, greater security... when you add up everyone pursuing those things it looks a lot like greed, but it%26#039;s not, it%26#039;s human nature.

Over time, the markets will fix themselves... I think that is one of the greatest differences between republicans/conservatives %26amp; democrats/liberals..... most of the people I%26#039;ve met who are educated in economics, or have knowledge of how markets work tend to be conservative... and tend to understand that less interferance in markets is better, because they understand the nature of markets...

wheras liberal minds tend to think form a social perspective, and think that markets are controlled by Republican white guys in suits and that their financial gains are made at the expense of the the %26quot;have-nots%26quot; and that some regulation or governement control will force those big mean white guys in suits to share their money.... fact is, it just doesn%26#039;t work that way... any regulation comes at the expense of the %26quot;have-nots%26quot; in this case I mean those who %26quot;have not got an understanding of the market forces in their world....%26quot;

Should greed be regulated?

loan

Greed is more like an emotion and therefore cannot be regulated by an outside source. It would be like trying to put a limit on anger or love. However the medium through which that greed is satisfied can be regulated. I am not sure if it is a good idea to sqelsh any business or industry simply because some overly optimistic consumers get themselves into financial situations that they cannot handle. I do believe that more education about financial decisions should be mandatory before anyone makes a large investment, such as buying a home. Too many people do not fully understand what they are getting themselves into, or understand the terminology used in the industry and end up being unpleasantly %26quot;surprised%26quot; later.|||Great thesis, Overt, but it seems to me that even Trying to regulate greed is kinda like trying to... oh, I don%26#039;t know... declare war on terror.|||Look what you are saying. Both the lenders and the borrowers are being hurt. It seems like, the free market is doing a wonderful job of punishment of greed. As far as the Religious right is concerned, it seems to be a very good example of the bible being right once again. There seems to be a real time, real life punishment for the sin of usury.

“Ex. 22:25 ? If you lend money to my people, to the poor among you, you shall not deal with them as a creditor; you shall not exact interest from them.”

“Deut. 23:19 ? You shall not charge interest on loans to another Israelite, interest on money, interest on provisions, interest on anything that is lent.”

“Psa. 15:1, 5 O LORD, who may abide in your tent? Who may dwell on your holy hill? … (those) who do not lend money at interest, and do not take a bribe against the innocent.”

“Luke 6:34 If you lend to those from whom you hope to receive, what credit is that to you? Even sinners lend to sinners, to receive as much again.”

There are many such examples of a real time real life punishment for other sins. For example, when the left advocates higher taxes on wealthy corporations out of envy. The corporations pay the taxes by making their shareholders earn less on investments. They make their customers pay more for less They make their employees work harder for less. The principle components of support of the left are Unions and the elderly. Unions are being punished by working harder for less. (downsizing and outsourcing) and retirees are earning less on investments. Both are suffering real time real life punishments for their sin of coveting the rich man%26#039;s money. I say, God is doing a marvelous job of sorting things out on his own and Human interferance will simply make matters worse.