Quote:
Originally Posted by cbirk
Do we need additional legislation and regulation to protect the stupid from their own stupidity (understanding that each of these increases the cost for the more savvy consumer)?
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If you are referring to the stupid consumers, then no, as long as they are personally bearing the costs of their own stupidity.
If you are referring to the stupid bankers, then yes, as the costs of their stupidity (and greed) are passed on to society at large. Transparency would be improved with a reasonable regulatory environment, thus lowering the costs to society.
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