The simplest set would have been state mandated rules on mortgage lending criteria, such as they would have on lending under the US federal systems - or like we used to have run by the banks in the UK with 3x income etc...
The other major regulation could have been on the whole stinking ediface of Credit Default Swaps and just made it effectively illegal to insure against loss on risky financial vehicles. That alone would have made banks and traders a hell of lot more circumspect when it came to bundling and insuring mortgages.
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timeasmymeasure
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Date: 2010-08-11 04:46 pm (UTC)The other major regulation could have been on the whole stinking ediface of Credit Default Swaps and just made it effectively illegal to insure against loss on risky financial vehicles. That alone would have made banks and traders a hell of lot more circumspect when it came to bundling and insuring mortgages.