Foreclosing on Government Regulations Essay

Foreclosing on Government Regulations Essay

Length: 1305 words (3.7 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

Foreclosing on Government Regulations

This essay shall not be like any other you receive for this competition. The others will seek to impress the judges, and use whatever means they find necessary to do so. I choose to be honest in this essay, and tell answer the question posed with full justice. The answer I give to you will be the one which I know to be best, with all of the knowledge that I possess. With this little disclaimer, I must now move on to answer the question posed: how to solve the current crisis of foreclosures. The solution is simple, effective, and proven: get the government out of the market.
The erosion of the housing market began with the creation of government run institutions like Fannie Mae and Freddie Mac. These institutions relied heavily on governmental funds and grants to operate, and even heavier on the insurance provided by the Federal Deposit Insurance Corporation, or FDIC. With the help of these government fallbacks, they engaged in irresponsible lending and questionable loan practices. People who should have never been able to qualify for a loan before were now able to do so, because someone sitting in Washington decided that everyone was entitled to a home. Fannie Mae and Freddie Mac have failed, and the citizens of the United States have now inherited a five trillion dollar debt. Thank you.
Yet even before the creation of this program, a bigger problem was started in the midst of Washington. I hinted at it just above, and it is the belief that everyone is entitled to home, which is to be provided for them. This is false and irresponsible economically. True, everyone on this earth that can call themselves human has the right to own a home, but the not for one to be provided for them. They...

... middle of paper ...

... sacrifice of even another man. This is no way to run a society, and no way to expect a productive civilization to live.
Foreclosures happen because the banks need to get back the value which is owed to them. They may have committed the first injustice of irresponsible lending, but the regulations put on them to make them do this are the only fault. The government is entirely to blame for every foreclosed home, and will be for every other one until they realize that government and economics are not in the same sphere of study, nor does one have any authority to effect policy in the other. The solution I provide for the banks: Foreclose on government intervention, and lobby for a better business environment. The solution I provide for President Barack Obama and Congress: Get your hands out of the economy, and allow your citizens to live their lives productively.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Government Regulations and Rights

- American citizens are getting tired of the governments increasing control of the economy, health care, and a dodgy recovery plan (Engstrom, 2). According to a national survey, "Voters are starting to realize that the regulations implemented by government are beginning to intrude more so on people’s personal lives" (Thompson and Tringali, 2). The survey also said that, "A majority of both conservatives (61%) and liberals (54%) say they are both negatively impacted by regulations that tell American business which workers to hire" (Thompson and Tringali, 2)....   [tags: Government]

Strong Essays
2334 words (6.7 pages)

Government Regulations: Accounting Essay

- Charlie Munger once stated, “You have to know accounting. It’s the language of practical business life.” This statement emphasizes that accounting has become the center of the business world. With the world now being focused around businesses and the idea of how to make the next dollar it’s obvious that the accounting field is rapidly becoming the most influential field in the world today. With these occurrences comes regulation, and when I say regulation I mean stiff government regulations on how financial reporting is done....   [tags: Government]

Strong Essays
1664 words (4.8 pages)

Essay on Outline Of New Government Regulations

- ... Supporting my thesis, by showing businesses having a negative impact on the environment. Furthermore, by offering a plausible option for a government regulation. III. Body Paragraph 2: If the government were to implement regulations on the use of disposable materials businesses would see a financial benefit from making the switch to reusable. Supporting Evidence: “The performance of laparoscopic cholecystectomy with disposable instruments was 19 times more expensive that fir reusable instruments.”(Adler, Scherrer, Ruckauer, Daschner, 2005)....   [tags: Greenhouse gas, Carbon dioxide, Regulation]

Strong Essays
712 words (2 pages)

A Vote for Canadian Content Regulations Essay

- In order for Canada to share an equal part in the overall media industry as any other country, Canadian content regulations must be in place. CanCon regulations should be enforced on Canadian media content, as it is a crucial aspect of national culture, representative of the country as a whole. Without such regulations determined by CanCon, Canadian society risks becoming lost within the commotion of international media and their varied interests. CanCon regulations not only help define Canada as a unity but help the creative Canadians that express themselves through musical expression....   [tags: media industry, canada, regulations]

Strong Essays
1314 words (3.8 pages)

Essay on Regulations and the Impact on Compliance for Businesses

- Part of managing Information Risk for the enterprise is ensuring compliance with laws, regulations and following best practices and standards outlined by recognized professional organizations (Whitman & Mattord, 2011). This is a huge task for large enterprises, particularly for those businesses in industries that are highly regulated like insurance and financial services, energy, banking and pharmaceutical. Managing compliance to federal regulations is getting increasingly difficult. Since 1949, the number of pages of federal regulations has grown from 19,335 pages to 134,261 pages in 2005 (Perry, 2013)....   [tags: risk management,federal regulations,insurance]

Strong Essays
1214 words (3.5 pages)

Government Regulations on Pollution Essay

- Growing concerns about the environment’s well-being has become a focal point for many governments all over the world. Governments have allocated a substantial amount of resources and capital in an attempt to reduce pollution. Air pollution has led to harmful health effects and a depletion of the ozone layer. The depletion of the ozone layer results in higher levels of UVB reaching the Earth’s surface. This added UVB has been linked with increased cases of cataracts and melanoma development (   [tags: environment, Richard Thaler, Cass Sunstein]

Strong Essays
741 words (2.1 pages)

Essay on The Public Benefit View Of Government Regulation

- ... First is the instance of the Department of Homeland Security’s (DHS) effect on airports and airline usage. The costs are primarily time delays. People take longer getting through the airports which cause delayed flights, decreased profits from less flights and increased labor and operations costs. The benefits of DHS’s actions are rooted in safety. The thought is that human life is more valuable than profit. I think that the public benefits outweigh the private cost in this scenario. Second is federal legislation guidelines on tractors, making them more environmentally friendly....   [tags: Cost-benefit analysis, Cost, Regulation]

Strong Essays
711 words (2 pages)

Public Health Laws and Regulations For Organized Camps in California Essay

- In the State of California, Department of Public Health Laws and Regulations Relating to Organized Camps, the following reference is made: “An accepted reference for these operating procedures are the following chapters of the Accreditation Standards for Camp Programs and Services,” (CA, 2008. p.8). The ACA's influence is so renown that the State of California has adopted many of their standards into laws. With regard to basic personnel requirements I found two requirements by law, that are also found in the ACA standards....   [tags: legal issues, regulations]

Strong Essays
1473 words (4.2 pages)

Industrial Regulations Essay

- Industrial regulation: This is when the government intervenes and puts up measures which seek to regulate the activities of a particular industry. For instance the government can put a limit on the number of vehicles that can be exported within a certain period. A company which exports beyond set limits will be breaking the law. The government use agencies and law enforcers to ensure that the industry follows the set regulations. Regulations occur because industries if left alone without regulation would exploit the consumer by charging high prices so as to increase on their profits....   [tags: Government]

Strong Essays
1054 words (3 pages)

Types Of Legislation And Regulations Essay

- There have been various types of legislation and regulations passed by the government in order to ensure that harmful monopolies are not created in our society. Three of these important regulations and policies include economic regulation, social regulation, and the antitrust policy. Economic regulation is defined as a “type of government regulation that sets prices or conditions on entry of firms into an industry”. Examples of agencies that are economically regulated include the Federal Communications Commission, the Federal Reserve System, and the Security and Exchange Commission....   [tags: Monopoly, Regulation, Cartel, Consumer protection]

Strong Essays
734 words (2.1 pages)