Just saw the cartoon above and it’s perfect for my inner thoughts the past few days.
I made a tiny reference to the Romney Etch A Sketch gaffe in my WeeklyBasis rate market report Sunday and summarily lost the most Twitter followers I’ve ever lost in one day.
The rest is just compliance with industry rules regardless of any sitting or future administration.
Finance pros that fight regulation today will still be fighting in the afterlife, and they won’t have gained shit. What’s the point? Regs are regs. And even if they don’t benefit the consumer, like so many of Finreg’s mortgage rules don’t, we in the trenches aren’t going to change them.
So comply, serve your clients, end of story.
And don’t tell me that a Right or a Left administration makes a bit of difference. We’d still have Finreg in roughly the same form regardless of the sitting administration because bank lobbyists crafted most of its final provisions, not politicians.
So after regaining most of my lost followers in the past couple days, I’ve been thinking about whether I’d steer clear of all political references going forward.
But it’s an election year so that’s impossible. I’ll continue to call out gaffes I enjoy on both sides and also discuss regulations.
And if you don’t like it and unfollow me, that’s ok. I’ll still be here when you check back.