I work in mortgages, a regulated industry in the UK. Sure, regulation is annoying but without it we used to have 100% mortgage loans, self-certification of income for loans and lending to people who clearly could not manage money. Now, we have heavily regulated loans and you have to have a fairly decent credit history, be able to prove your income and can only borrow approx. 5 x income. Regulation is good it got rid of the dodgy cash taking,play by the rules. I have to play by the rules, why ...
