contact
Main
Contact Me

about
About RightWing NutHouse

Site Stats

blog radio

Listen to internet radio with RINO Hour of Power on Blog Talk Radio
Click Here to Pay Learn More

testimonials

"Brilliant"
(Romeo St. Martin of Politics Watch-Canada)

"The epitome of a blogging orgasm"
(Cao of Cao's Blog)

"Rick Moran is one of the finest essayists in the blogosphere. ‘Nuff said. "
(Dave Schuler of The Glittering Eye)

archives
April 2015
March 2015
February 2015
January 2015
December 2014
November 2014
October 2014
September 2014
August 2014
July 2014
June 2014
May 2014
March 2014
February 2014
January 2014
December 2013
November 2013
October 2013
September 2013
August 2013
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
April 2005
March 2005
February 2005
January 2005
December 2004
November 2004
October 2004
September 2004

search



blogroll

A CERTAIN SLANT OF LIGHT
A Conservative Lesbian
ABBAGAV
ACE OF SPADES
ALPHA PATRIOT
AM I A PUNDIT NOW
AMERICAN FUTURE
AMERICAN THINKER
ANCHORESS
AND RIGHTLY SO
ANDREW OLMSTED
ANKLEBITING PUNDITS
AREOPAGITICA
ATLAS SHRUGS
BACKCOUNTRY CONSERVATIVE
BASIL’S BLOG
BEAUTIFUL ATROCITIES
BELGRAVIA DISPATCH
BELMONT CLUB
BETSY’S PAGE
Blacksmiths of Lebanon
Blogs of War
BLUEY BLOG
BRAINSTERS BLOG
BUZZ MACHINE
CANINE PUNDIT
CAO’S BLOG
CAPTAINS QUARTERS
CATHOUSE CHAT
CHRENKOFF
CINDY SHEEHAN WATCH
Classical Values
Cold Fury
COMPOSITE DRAWLINGS
CONSERVATHINK
CONSERVATIVE THINK
CONTENTIONS
DAVE’S NOT HERE
DEANS WORLD
DICK McMICHAEL
Diggers Realm
DR. SANITY
E-CLAIRE
EJECT! EJECT! EJECT!
ELECTRIC VENOM
ERIC’S GRUMBLES BEFORE THE GRAVE
ESOTERICALLY.NET
FAUSTA’S BLOG
FLIGHT PUNDIT
FOURTH RAIL
FRED FRY INTERNATIONAL
GALLEY SLAVES
GATES OF VIENNA
HEALING IRAQ
http://blogcritics.org/
HUGH HEWITT
IMAO
INDEPUNDIT
INSTAPUNDIT
IOWAHAWK
IRAQ THE MODEL
JACKSON’S JUNCTION
JO’S CAFE
JOUST THE FACTS
KING OF FOOLS
LASHAWN BARBER’S CORNER
LASSOO OF TRUTH
LIBERTARIAN LEANINGS
LITTLE GREEN FOOTBALLS
LITTLE MISS ATTILA
LIVE BREATHE AND DIE
LUCIANNE.COM
MAGGIE’S FARM
MEMENTO MORON
MESOPOTAMIAN
MICHELLE MALKIN
MIDWEST PROGNOSTICATOR
MODERATELY THINKING
MOTOWN BLOG
MY VAST RIGHT WING CONSPIRACY
mypetjawa
NaderNow
Neocon News
NEW SISYPHUS
NEW WORLD MAN
North Star National
Northerncrown
OUTSIDE THE BELTWAY
PATRIOTIC MOM
PATTERICO’S PONTIFICATIONS
POLIPUNDIT
Political Byline
POLITICAL MUSINGS
POLITICAL TEEN
POWERLINE
PRO CYNIC
PUBLIUS FORUM
QUESTIONS AND OBSERVATIONS
RACE42008
RADICAL CENTRIST
Ravenwood’s Universe
RELEASE THE HOUNDS
RIGHT FROM LEFT
RIGHT VOICES
RIGHT WING NEWS
RIGHTFAITH
RIGHTWINGSPARKLE
ROGER L. SIMON
SHRINKRAPPED
Six Meat Buffet
Slowplay.com
SOCAL PUNDIT
SOCRATIC RYTHM METHOD
STOUT REPUBLICAN
TERRORISM UNVEILED
TFS MAGNUM
THE ART OF THE BLOG
THE BELMONT CLUB
The Conservative Cat
THE DONEGAL EXPRESS
THE LIBERAL WRONG-WING
THE LLAMA BUTCHERS
THE MAD PIGEON
THE MODERATE VOICE
THE PATRIETTE
THE POLITBURO DIKTAT
THE PRYHILLS
THE RED AMERICA
THE RESPLENDENT MANGO
THE RICK MORAN SHOW
THE SMARTER COP
THE SOAPBOX
THE STRATA-SPHERE
THE STRONG CONSERVATIVE
THE SUNNYE SIDE
THE VIVID AIR
THOUGHTS ONLINE
TIM BLAIR
TRANSATLANTIC INTELLIGENCER
TRANSTERRESTRIAL MUSINGS
TYGRRRR EXPRESS
VARIFRANK
VIKING PUNDIT
VINCE AUT MORIRE
VODKAPUNDIT
WALLO WORLD
WIDE AWAKES
WIZBANG
WUZZADEM
ZERO POINT BLOG


recentposts


RINO Hour of Power: Baltimore Riots: Are we in for a long, hot summer?

RINO Hour of Power: Is the GOP doing a better job of running Congress than the Democrats?

RINO Hour of Power: Hillary Announces: Should we bother to count the votes?

RINO Hour of Power: A Preview of the 2015 Major League Baseball Season

RINO Hour of Power: Indiana religious freedom law: Bigotry or defending the 1st Amendment?

RINO Hour of Power: A Conversation with David P. Goldman, AKA ‘Spengler’

RINO Hour of Power: Eight Year Anniversary of Broadcasting on Blog Talk Radio

RINO Hour of Power: Political Potpourrie

RINO Hour of Power: Mr. Netanyahu Goes to Washington

Boycott CPAC

RINO Hour of Power: GOP playing chicken with Homeland Security funding

RINO Hour of Power: What does the Brian Williams fiasco tell us about modern journalism?

RINO Hour of Power: The Vaccine Controversy and the Anti-Science Right

RINO Hour of Power: The State of the Union - The State of Obama’s Presidency

RINO Hour of Power: A Tour d’Horizon of Global Terrorism

RINO Hour of Power: How will Republican factionalism in the House affect Congress?

RINO Hour of Power: The Opening to Cuba

RINO Hour of Power: The Death of The New Republic

RINO Hour of Power: Political Potpourri

Ten Reasons Why Thanksgiving is My Favorite Holiday

RINO Hour of Power: The Fallout from Ferguson

RINO Hour of Power: Gruber Fallout and the Lame Duck Session of Congress

RINO Hour of Power: Election Night Extravaganza

RINO Hour of Power: GOP eyes Senate majority status one week from mid terms

RINO Hour of Power: War Drums Beating in Washington


categories

"24" (117)
ABLE DANGER (10)
American Issues Project (11)
Arizona Massacre (5)
Bailout (32)
Bird Flu (5)
Birthers (16)
Blackhawks (2)
Blagojevich (9)
Blogging (404)
Books (10)
CARNIVAL OF THE CLUELESS (68)
Caucasus (1)
CHICAGO BEARS (40)
Chicago Bulls (3)
Chicago East (3)
CIA VS. THE WHITE HOUSE (29)
Cindy Sheehan (13)
Climate Change (3)
Climate Chnage (11)
conservative reform (96)
cotton candy conservatives (20)
CPAC Conference (13)
Culture (11)
Debt ceiling (2)
Decision '08 (402)
Decision 2010 (13)
Decision 2012 (34)
Deficit reduction (5)
Election '06 (9)
Entitlement Crisis (4)
Environment (15)
Ethics (290)
Fairness Doctrine (1)
Financial Crisis (53)
FRED! (28)
FrontPage.Com (79)
Frum Forum (2)
Gaza incident (1)
General (431)
GOP Reform (61)
Government (295)
health care reform (66)
History (298)
Homeland Security (18)
IMMIGRATION REFORM (28)
IMPEACHMENT (3)
Iran (114)
IRAQI RECONCILIATION (13)
Israel vs. Hamas (6)
KATRINA (29)
Katrina Timeline (5)
Lebanon (18)
Liberal Congress (12)
Manzine (1)
Marvin Moonbat (14)
Media (262)
Middle East (183)
Moonbats (81)
National Health Insurance (4)
NET NEUTRALITY (2)
Newsreal Blog (1)
Obama inauguration (2)
Obama-Rezko (15)
OBAMANIA! (80)
Oil Spill (2)
Olympics (6)
Open House (1)
Palin (23)
Pirates (1)
PJ Media (119)
PJ Tatler (5)
Politics (1271)
Presidential Debates (7)
Presidential Transition (9)
RINO Hour of Power (140)
RNC (2)
S-CHIP (3)
Sarah Palin (5)
Science (70)
Space (33)
Sports (18)
Star Trek (1)
SUPER BOWL (7)
Supreme Court (28)
Swine Flu (4)
Tea Parties (15)
Technology (5)
Tenth Amendment (3)
The Caucasus (1)
The Law (19)
The Long War (11)
The Rick Moran Show (306)
Too Big To Fail (8)
Torture (2)
UNITED NATIONS (22)
Walpin Scandal (2)
War on Terror (402)
WATCHER'S COUNCIL (117)
WHITE SOX (7)
Who is Mr. Hsu? (7)
Wide Awakes Radio (9)
WORLD CUP (11)
WORLD POLITICS (127)
WORLD SERIES (16)


meta

Admin Login
Register
Valid XHTML
XFN







credits


Design by:


Hosted by:


Powered by:
10/28/2009
DOES THE GOVERNMENT THINK YOU’RE STUPID? OR A CHILD?

My latest AIP column is up and it deals with the passage in the House of the Consumer Finance Protection Agency (CFPA) and how another alphabet soup agency will protect us from our own stupidity.

A sample:

I am often vexed lately when reading what our government is doing. On the one hand, I find it hard to fault the intentions of those who wish to make our lives “easier.” On the other hand, I want to throttle them for insulting my intelligence by proposing to do something for me that any reasonably aware 10 year old should be able to do for himself.

If the modern welfare state teaches us anything, it is that we must be cocooned and protected as if we were a newborn babe, or prevented from harming ourselves because we’re too stupid to know any better. It’s not enough that government warn us that the stove is hot. They must put on oven mitts for us and then place a 10 foot high sign in front of our face telling us not to touch anything.

I get this feeling of being patted on the head and told I’m a good boy when reading about the brand new Consumer Finance Protection Agency (CFPA) - another in a long line of alphabet soup government watchdog agencies who are ostensibly set up to protect us from rapacious corporations who would do us harm. And, as you might have guessed, the CFPA has also been constituted to protect us from our own stupidity.

In this case, it will be financial products from which we will be spared the consequences of any irresponsible, ill-informed decisions we might make. The stated reason is to prevent another financial meltdown like the one that occurred a year ago.

I am not against financial regulation - far from it. I am against government taking it upon itself to act as a knight protector against our own ill informed, lazy decision making.

There are already laws on the books to deal with unscrupulous mortgage consultants, crooked brokers, and other get rich quick schemers who don’t make any headway against those who conscientiously review and examine documents, ask questions, and generally take personal responsibility for their own decisions in financial matters.

If the crook lies, or misleads, he and his firm are not only liable for criminal penalties but losses can be recovered in civil court. The point being, we don’t need a whole new agency that will end up stifling financial innovation by limiting who can purchase complex financial instruments, while forcing financial institutions to offer “vanilla” products to consumers they feel are not savvy enough to understand risk.

Buying a mortgage is not rocket science. Sue and I took a night off from watching TV to read every word of the agreement, draw up a list of questions, and would not sign on the dotted line until every one of our concerns were met and questions were answered. We spent an hour with our insurance broker so that we completely understood that aspect of the purchase.

The potential for abuse by this agency is astronomical (the power to investigate and punish will be in the hands of the director - a political appointee). And there is the probability that fewer people will be able to get mortgages because the seller will not be able to offer a wide variety of solutions in order to get a customer into a home.

Credit cards are a different story, and I wholeheartedly endorse reforms in that area. But do we need a new agency for that? Or would common sense legislation that would prohibit industry practices that costs consumers and merchants billions of dollars in unnecessary fees be adequate?

The CFPA is good government gone wild. We don’t need it, and it should be defeated in the senate.

By: Rick Moran at 8:14 am
10 Responses to “DOES THE GOVERNMENT THINK YOU’RE STUPID? OR A CHILD?”
  1. 1
    Chuck Tucson Said:
    9:59 am 

    Financial innovation. This is another way of saying, lets put an addition on the house of cards.

  2. 2
    michael reynolds Said:
    10:54 am 

    Wait a minute, I thought conservatives argued precisely that the people who ended up underwater or signed lousy deals were stupid. That thy had been foolish. Responsible, but stupid.

    Isn’t that a big part of why the country almost went 1929? That people were stupid enough to sign mortgages they couldn’t pay? Wasn’t that a key theme as conservative politicians bobbed and weaved and tried to avoid taking any responsibility?

    The problem is not outright fraud, it’s deceptive practices. It’s using endless documents full of legalese to baffle and confuse the suckers. Not everyone has a lawyer to interpret. And the assumption by a lot of people is that the financial institution wouldn’t give them a mortgage they were unable to pay.

    Blaming the customer for failing to understand deliberately obscure deals written in deliberately obscure language makes no more sense than demanding that patients read their own charts and take responsibility for all medical decisions.

    Possibly the very last thing we need right now is a lot of clever, clever financial innovation. These masters of the universe just innovated us into disaster and had to be rescued by the taxpayers.

  3. 3
    Chuck Tucson Said:
    11:48 am 

    Michael Reynolds, you are absolutely 100% correct. I’ll even take that a step further though, and throw in the amazing “Financial Innovation” called the No Income, No Asset Verification Mortgage.

    Imagine the surprise of the financial institutions when they basically said, come on in, lie to us, and we’ll give you FREE FUCKING MONEY… (for a commission, of course) and people actually came in and did it.

    There’s your financial crisis right there. Oh, but lets blame the people for taking the money. What the hell difference does it make though, as long as everyone up the chain got their commission on the mortgage, or, further up, their financial innovation.

    Give me some time though, and I’ll figure out a way to blame ACORN for this.

  4. 4
    Marge Gunderson Said:
    1:58 pm 

    Since there are so many “laws on the books” already to discipline the wrongdoers, then perhaps we ought to be digging those up to punish those whose cruddy business practices have led tens of thousands of people to be foreclosed upon, some of whom must be victims not only of their own ignorance or circumstance, but also of fraud. What’s that you say? Those people should just wait in line while one or two overworked States Assistant Attorneys General “look into it”? Great solution. Meanwhile, people are literally kicked to the curb.

    The banksters have proven, yet again, that they cannot be trusted to self-regulate their behavior or treat their customers as anything other than foie gras geese to be stuffed with garbage until they pop. Just the threat of “some agency” telling them what to do MIGHT get them to straighten up.

  5. 5
    Locomotive Breath Said:
    7:12 pm 

    DOES THE GOVERNMENT THINK YOU’RE STUPID? OR A CHILD?

    False dichotomy. The government thinks we’re both.

  6. 6
    Travis Monitor Said:
    9:38 pm 

    I always felt that the problem with liberalism is that:
    It treats adults like criminals,
    criminals like children, and
    children like adults.

    Nanny-statism is along the same lines. Govt = Daddy, so eat your veggies and let Govt tell you what to do - infantilization of laws.

  7. 7
    michael reynolds Said:
    10:21 pm 

    Govt = Daddy, so eat your veggies and let Govt tell you what to do - infantilization of laws.

    Yeah, I hate that. Like when some people think the government should decide whether a woman can get an abortion? Or when the government decides who can and cannot get married? Or when government tells people what words they can use on the radio or TV? Or when some people think government should have an unfettered right to listen to your phone calls?

    That’s like, so liberal and all.

  8. 8
    Marge Gunderson Said:
    9:42 am 

    Yeah, I really hate it when the government tells me what plants I can grow in my garden for my own personal use. Or what should or shouldn’t show up in my bodily fluids.

    Danged libruls are always infriging on my personal space and freedoms as an American.

  9. 9
    Dan @ Israeli Uncensored News Said:
    3:54 pm 

    Of course, the government has to treat subjects as stupid: paternalism is the best, most agreeable way to expand the government regulation

  10. 10
    Maddie Said:
    8:10 am 

    Though the years it didn’t matter whom was president of which party, government has tried to tell us what to do, so why do we blame whichever party is in the white house at the time? Also, the tea baggers and the like don’t realize thay are doing the same as the radicals did in Russia, that created communism, and same who gave hitler the boost he needed and created nazism. True republicans have taken a back seat to the ones who are creating their own party . What ISM will they create and we find ourselves isolated like Germany and Russia?

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.