In the old days, lenders proved they didn't need regulation the same way you and I don't lend a C note to sketchy past.
IMO, lenders need regulations in the new market because they've decreased their risk. Risk kept them honest and the same risk helped identify solvent borrowers.
Squeeze a balloon. One end expands and the other end contracts. Responsible regulation is like a second skin on the balloon. When market conditions squeeze the balloon, one end doesn't pop and the other end doesn't implode. We now need that second skin where lenders assume minimal risk.
This is all opinion and hope I don't offend.
IMO, lenders need regulations in the new market because they've decreased their risk. Risk kept them honest and the same risk helped identify solvent borrowers.
Squeeze a balloon. One end expands and the other end contracts. Responsible regulation is like a second skin on the balloon. When market conditions squeeze the balloon, one end doesn't pop and the other end doesn't implode. We now need that second skin where lenders assume minimal risk.
This is all opinion and hope I don't offend.