Comments on Matthew’s “Tighten Global Market Regulation”

I agree with what Matthew said. It is time for the entire globe to learn a lesson from our US mortgage market default crisis. Lenders here in US have been recklessly approving and lending money to borrowers who are not capable of paying it back. Just like what we learned last week in class, there are many regulators in the current market, from FED, FIDC to Security Exchange Agents. As a matter of fact, all the regulators seem to perform their obligations well. The issue is that at the bottom of the regulation chart, mortgage brokers are taking advantage of the system and lending money to consumers with bad credit. People on top of the chart might not even know what is going on inside the lending department until mortgage fraud starts to taking over the market.

I think the new way of 3 major regulators should work better. The new 3 major regulators eliminate all the unnecessary departments and people who are not involved. Fewer steps mean more accuracy and more efficiency. More importantly, when there is a problem, the signs are taken early and seriously. It is time to tighten our regulation.