Uppereastside and bayam got schooled in this thread.

bayam disappeared as soon as the examples started flowing in. She must live in a bubble if she thought that examples weren’t easy to produce.

The fact is that ObamaCare alone is reason enough for businesses to shy away from expansion.

That said, if these regulations are so cumbersome, why don’t you write your congressman and detail them to him the way you just did here. That way he just doesn’t go on CNBC or Fox News and scream regulations without being specific.

What a fat load of crap. We live in an age where one party locks the other out of the legislating process (think 2009-2010) on certain bills. What makes you think they give a rip about constituents except maybe 2 to 3 months out from the next election?

pistris on May 2, 2012 at 4:16 PM

Like i said, i know folks in the same industry who aren’t complaining about all these “regulations” you are talking about.

That said, if these regulations are so cumbersome, why don’t you write your congressman and detail them to him the way you just did here. That way he just doesn’t go on CNBC or Fox News and scream regulations without being specific.

Might there be some regulations out there stifling growth? Of course. However republicans have been known to blame higher taxes and regulations on everything you can ever imagine. They have managed to politized legitimate concerns you and others may have about actual unnecessary regulation. That is why folks on the other side of the aisle call their BS when they scream regulations this regulations that.

angryed on May 2, 2012 at 2:32 PM
I wasn’t referring to the imaginery regulations you hear Rush Bimbo and Sanity spew every day. I want you to state ACTUAL regulations that have negatively impacted you as a small business owner or someone you personally know. I gave an example of a friend who is in construction and told me how he felt some of the local rules around asbestos were too burdensome. Rules were since relaxed since 2008.

Del Dolemonte on May 2, 2012 at 2:49 PM
I have friends in the mortgage industry as well. A bulk of them complain about the housing sector not picking up. I am yet to hear any of them complain how your BS UAD law is why they aren’t making money.

Uppereastside on May 2, 2012 at 3:25 PM

Many of these additional regulations especially for construction are state mandated and regulated. But you need to regognize the link between the feds, EPA, etc., and the states. Especially here in Kommiefornia there is virtually no difference between the state and the feds, they are working together and an states that don’t, the feds sue and who has the bigger war chest?

With regards to the housing sector,.. Do you think perhaps that the feds micro-managing the short sale and foreclosure process has anything to do with the lack of market recovery? I know it is different in other parts of the country but here in the CA central valley, the biggest problem is the massive lack of available inventory of homes on the market. Federal and state regulations has slowed the short sale and foreclosure process to a crawl and it we have never even seen signs of a recovery. This has been a problem since literally Jan of 09. Each one of my loan officers must have 25 fully qualified borrowers that can’t find homes due to lack of supply. Astonishing but true.

It’s “Big Stick”, buddy, not “Enormous Package”…

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

Among other specific federal regulations that are hurting the mortgage business are, the new rules on what loan originators can be paid and how they can be paid. I have to pay each loan officer a specific and pre-determined amount based on loan amount. If they make a mistake in locking/pricing or if they want to give some of their commission to a borrower for rate reduction or cost reduction(used to be a common practice), they cannot. Since I manage and I want to get paid on eeevil profitability, I cannot originate anything. This removes the ability for me to make a little extra money which I would use to put back into my business or use to hire more staff. Not really that big of deal for me personally but makes a dramatic effect on any smaller companies with “producing” managers. The appraisal thing is a big deal as was mentioned. First there was HVCC(home valuation code of conduct), that the feds and big banks used to force AMC’s(appraisal management companies) into the appraisal process. It basically added a huge additional link between the originator and the actual appraiser. And, if HVCC wasn’t bad enough, along came Dodd-Frank to take over and add more regulations on top of it. By federally requiring the use of AMC’s they created an entire level that did not need to be there. It added 2 to 400 bucks to each appraisal, took most of that from the appraisers and added about 200 to the cost of each loan that the consumer ends up paying in the end. Many of these things needed to be reformed, but instead of helping the industry police itself or taking a market based solutions approach, they ended up removing choices from business owners, borrowers and everyone involved. We can argue forever about what needed to be done and what was done but here are some specific examples. I can go all day with more specifics as well. Simply because you got an A in critical thinking class and you think it is fun to point out the hypocrisy that everyone engages in does not mean you have any real world knowlege of anything other than your personal perspective and opinion.

Uppereastside on May 2, 2012 at 3:25 PM

You asked for him to list ONE regulation and several were cited. You then proceed on a tangent about your friends not crying over regs but the market not picking up. I believe you have just had your arse handed to you. Now you and your cohort will probably try and excuse the extra regs away as not all that cumbersome.

angryed on May 2, 2012 at 2:32 PM

I wasn’t referring to the imaginery regulations you hear Rush Bimbo and Sanity spew every day. I want you to state ACTUAL regulations that have negatively impacted you as a small business owner or someone you personally know. I gave an example of a friend who is in construction and told me how he felt some of the local rules around asbestos were too burdensome. Rules were since relaxed since 2008.

Del Dolemonte on May 2, 2012 at 2:49 PM

I have friends in the mortgage industry as well. A bulk of them complain about the housing sector not picking up. I am yet to hear any of them complain how your BS UAD law is why they aren’t making money.

Once again, thanks for admitting you’ve never owned or run a business.

Del Dolemonte on May 2, 2012 at 2:49 PM

Well written.

http://www.zerohedge.com/news/zuckerman-cnbc-recession-never-ended

FTA:”Everyone’s favorite perma-bullish stand-in for Cramer, Fast Money’s Scott Wapner, seemed lost for words when Boston Properties CEO Mort Zuckerman laid down some basic truthiness on the state of the US economy “We have the most stimulative fiscal and monetary policy in the history of this country and here we are three years into the recession and it’s not ended. I think we may be heading for an even weaker economy this year than people expect.”

There is a reason a large majority know the recession/depression never ended. It didn’t.

Thanks for Obama, CAFE standards will add on average $3000 to the cost of a new car in the next 3-4 years.
angryed on May 2, 2012 at 2:30 PM

I mentioned that upthread. Did you see the new regs on aircraft de-icers?

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

My sector of the mortgage industry depends on real estate appraisers to provide us with accurate valuations. Since the Democrats took over Congress in 2007, those folks have seen countless increases in Federal regulation, much of it taking place in the year 2007 itself before the Recession began but continuing each and every year. To give you one example of a new Federal Regulation impacting my business, last year the Feds started requiring those Appraisers to use a totally new format for their reports, called UAD.

To improve the quality and consistency of appraisal data on loans delivered to the GSEs, Fannie Mae and Freddie Mac, at the direction of the Federal Housing Finance Agency (FHFA), have developed the Uniform Appraisal Dataset (UAD), which defines all fields required for an appraisal submission for specific appraisal forms and standardizes definitions and responses for a key subset of fields.

For appraisals with an effective date (date of inspection) on or after September 1, 2011, the appraisal report must be completed in compliance with the UAD for conventional mortgage loans sold to Fannie Mae or Freddie Mac.

The UAD is a component of the Uniform Mortgage Data ProgramSM, jointly established by Fannie Mae and Freddie Mac under the direction of our regulator, the Federal Housing Finance Agency, to provide common requirements for appraisal and loan delivery data.

This SINGLE new layer of Federal Regulation immediately impacted not only the appraisers themselves, but us folks in the mortgage sector who use their services. The appraisers had to immediately spend extra money to take classes to acquire knowledge on how to fill out the new, much more complex forms, but also had to spend extra money to acquire the required new software updates for the new forms, which are required for single family homes and condos.

On my end of the mortgage sector, we had to spend extra funds to upgrade our computer systems to handle this new appraisal format, and also extra funds to train people how to read and understand the new format.

In the long run, the appraisers themselves have adjusted quite well, but the folks in my end are worried because one of the major goals of UAD was to eliminate layers of mortgage processors to streamline the mortgage process. In other words, Dodd and Frank wanted to put more people out of work.

Once again, thanks for admitting you’ve never owned or run a business.

Question: Are the liberals purposely destroying America or are they just clueless?

Answer: Stimulus failed, Stimulus 2 failed, they want another stimulus and more failure… This is intentional, it is not about differing beliefs, it is not about being an idiot. It is evil, plain and simple.

jeffn21 on May 2, 2012 at 12:44 PM

Isn’t that the DEFINITION of liberalism: doing the same thing over and over again, and expecting different results each time?

If 100 million murders don’t make them question their theology; it’s safe to say a few trillion dollars of other people’s money are less than irrelevant to them.

Resist We Much on May 2, 2012 at 2:21 PM

It was repealed. Even Democrats realized just how idiotic that rule was. The only thing repealed in ObamaCare to date I think.

Obamacare has drastically changed the rules for what constitutes an allowable medical expense under an HSA or FSA plans.

I’m still pissed about that one. I always considered my FSA part of my health care plan — and I liked my plan, so I believed I would be able to keep it (ahem). My annual election was waaay above the current threshold (2 family members with autoimmune disorders), so that was a definite tax increase for me directly associated with PPACA. I have no doubt it made the FSA less attractive to employers, and woe betide those companies that administer FSA plans as their primary line of business. Ouch.

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

There is a new set of federal regulations on the use of pesticides by commercial operators. But hey, that won’t impact any of the small businesses that use pesticides, right? They’ll just magically change their business process and pricing to conform to the new regulations.

Del Dolemonte on May 2, 2012 at 1:54 PM

True, hard to imagine an industry so victimized by unnecessary regulation and oversight. How terrible!

http://www.ritholtz.com/blog/2011/12/fbi-estimates-80-of-mortgage-fraud-involved-industry-insiders/

http://www.ritholtz.com/blog/2011/12/unprecedented-fraud-toothless-watchdogs/

Pauline Krugman on May 2, 2012 at 2:01 PM

lol. I am in no way a “mortgage industry insider” and never was. As I told your pal Eric Alterman earlier in this thread, I work in one of many of the associated mortgage service industries, and never was a mortgage broker or a mortgage originator.

Ever heard of the Dodd-Frank Wall Street Reform and Consumer Protection Act? That Act, which you Democrats own, has added several additional layers of Federal Regulation to everything from mortgage origination to real estate appraisals. Ironically Dodd and Frank themselves created most of the problems that their Act has tried to solve.

From last year:

President Barack Obama is expanding his use of federal regulations by prodding the financial sector to sell low-interest mortgages to millions of cash-strapped homeowners “independent of how deeply underwater they are,” said Shaun Donovan, Secretary of the Department of Housing and Urban Development, Monday morning.

White House officials worked with real-estate and financial-sector groups to shift the financial risks that have kept high-risk borrowers from getting mortgages. Under Obama’s plan, low-interest mortgages will even be offered to homeowners who need to borrow 125 percent of a house’s value, Donovan added.

-snip-

This risk-adjustment strategy, however, can be risky for taxpayers.

In part, the current recession was caused by federal efforts on the part of Presidents Bill Clinton and George W. Bush to have the federal government shoulder finance companies’ mortgage risks by granting mortgages to lower-income Americans.

The risk were lowered by having government-backed agencies, Fannie Mae and Freddie Mac, guarantee risky mortgages prior to them being sold to Wall Street investors. Subsequently, the investors — and the banks’ shareholders — lost billions of dollars in stock value when too many loans were unpaid.

This risk-shifting strategy allowed Bush and many legislators to spur the post-9/11 economy without appropriating more funds via Congress.

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

Thanks for Obama, CAFE standards will add on average $3000 to the cost of a new car in the next 3-4 years. But that won’t impact business, right? After all no small business uses a car/truck in any capacity. That’s so 2008. Now everyone just blinks their eyes and transports their goods to the destination without a truck/car involved. So that won’t impact businesses.

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

Obamacare has drastically changed the rules for what constitutes an allowable medical expense under an HSA or FSA plans. But that didn’t impact any employers, right? Nobody had to get the new regulations, study the regulations, inform employees, right? All of that happened magically and there was no cost involved with the process whatsoever.

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

Any mortgage broker has had numerous additional forms added to a loan origination process by Dodd-Frank. But hey, filling out all those forms doesn’t impact business, right? Time is limitless and spending an extra hour per mortgage filing out those forms doesn’t impact any business whatsoever.

Mr “Small Business”- Still waiting on ONE not TWO but ONE new regulation under the socialist’s regime that has impacted your business.

Uppereastside on May 2, 2012 at 2:07 PM

Any business that accepts credit cards or check cards as payments has been impacted by Frank-Dodd. Any other questions Mr. Investment Genius who predicted SBUX would hit $70 by end of April?