Many of our problems have been caused by the greed of banks, and the government is intervening hand over fist.
During my experiences in Sales and Marketing, I learned about the KISS principle. This stands for “Keep it simple, stupid”.
Have you noticed, in life, how everyone tries to complicate things?
The Government is trying to rearrange our monetary systems to try to make the institutions more responsible. Rather than interfere, I would leave it up to the banking industry to police themselves.
Ah! I hear you rolling on the floor with uncontrollable laughter. But I must beg of you to hear me out first.
I would pass a simple law, along the lines of:
No institution may be permitted to accept a person’s first or main place of residence as collateral for any debt unless it is a mortgage where the deposit has been an amount of 20% or over.
Hey Presto! All problems with the banking and finance industry would be over. All mortgage lenders would insist on at least 20% deposit so 100% mortgages would be a thing of the past. Credit Card companies would not expand your credit limit automatically each year but would base it on your earnings, how secure your job is, and what other debts you have.
Personally, as a libertarian I don’t believe in central government at all, but I am also a realist and think we are going to be stuck with them for years to come. So the next best thing is to provide a framework which focusses the minds of errant institutions, whilst at the same time K.I.S.S!
Ampers for parliament.