Mark Calabria discusses the credit card bill on CNBC

[freemarketcapitalist]

I think its laughable that they speak as though its their problem to solve.

[return135]

... Lady, the fed was created in 1913, not in the 1930s. Also, the Cato Institute needs to start bashing the Federal Reserve and really going after these left wing regulators and demolishing their arguments, like the Mises Institute does.

[inconformant]

mark is right.

[sniper6081]

I wonder if Ron Paul was one of the two republicans that voted against it. He probably was.

[chevydriver1123]

The other was probably Jeff Flake

[NekoMouser]

It looks like Paul voted for actually. Flake, too. The Republican Noes were Castle and Kirk.

[sniper6081]

I just found out today that Ron Paul was one of the republicans that voted "no." The other guy might be one of your suggestions, but Ron Paul definetly voted "no."

[Surhotchaperchlorome]

Kim, you want less complexity, shrink government.

Duh.

[Surhotchaperchlorome]

Anne Kim is ignorant.

The Fed was created in 1913, years before the great depression.

The crisis now was from the Fed lowering interest rates like crazy, which CAUSED the bad information and signals.

[MooseOfReason]

The CPSC sure kept our kids safe from dangerous toys, haven't they?

Why do we want a CPSC for financial products?

[Kenmoron]

Mark is making a lot of sence. This bill is a good thing. But it is not a the whole solution. That is fine.

I am clapping my hands.

mark does make a lot of sense. But the bill is a good thing and is part of a overall solution. No one is saying it will fix everything, but he seems to want to attack that straw man.

You don't let smart people exploit dumb people by confusing them while pushing money and complex legal contracts in their hands.

America is built on hard work not tricking others

[torresut]

One mechanic? And this mechanic happens to be the government. Mmm, I think that the government should be out of personal finances and let the forces of the free market determined the validity of a product.

[Kenmoron]

did we not just see what happens? If the government was not at least standing there, there now would be 5 year olds with credit cards.

[torresut]

What if I want to let a 5-years old kid borrow my money? Is the government there to tell me what I should do with my money, to regulate me. I would be the one taking the risk, the the kid. Now, let's replace me with a bank. A bank should and do know what they're doing. We should let the laws of the free market regulate borrowing, not the government. Government regulates China, Russia, but it should not regulate a free society like ours.

[Kenmoron]

wow you are missing the point. The 5 year old can not make rational choices. (this is an assumption of free market economics. Who cares if you want to take the chance of a 5 year old. Truly Free Markets result in efficiency at the price of slavery and death. A truly free market does not foster a society. Markets help provide material needs to a society. If the focus becomes on maxing the market, the society will be lost.

[littlebier8]

What?! Things are complex... so GOVERNMENT needs to straighten them out?!? This is central planning at its worst. It is BECAUSE things are so complex that government CAN'T plan them! They don't understand the market or consumer demand! They are just going to end making a bunch of arbitrary decisions based on flawed economic models that are going to hurt the economy!

[Blackhalo325]

She's saying that the GOVERNMENT will will make things LESS COMPLEX.

Where has she been?

[UnderseaCaveman]

Ok, she's making a strawman argument.... the Dept of Defense has been around for 100s of years, yet it is clearly able to evolve... In other words, it's just another Bureaucrazy move!!