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Should banks be able to offer 100% mortgages without regulation?

Brown: Banks should be 'servants'
Gordon Brown has called for a more responsible banking system, in which banks are the "servants of the economy and society and never its master".

The prime minister said the Financial Services Authority was looking at how new mortgages of mo...
Feb 22, 2009
1 votes
2 debaters

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Feb 23, 2009
1 convinced
it is ironic to me that while everyone is freaking out about the economy and slowly realizing that the housing loans were a big part of it, they immediately think that the government should regulate it. are people unaware that it was government regulation that required banks to extend loans to people who couldn't pay them back? i think their regulations have done quite enough already.

it is in the banks best interest to extend loans to people who are going to pay them back and to not extend loans to people who are not going to pay them back. this is also in the best interest of the people, and the economy as a whole. it is completely self regulating.

Feb 22, 2009
0 convinced
Why not? Unconsequential mortgaging has worked out so well in the past.

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