Our govt. must have concluded that the citizens of this country must be pretty stupid then given all the F'n rules put in place over the years....I think the govt. likes ignorance, it gives them thier reason for existance...
Yup. No doubt about that. Just look at the rush of new lenders. I'll tell you what. If laws about false or misleading advertising in place were enforced and your average Joe citizen could afford to use the court system address these poor marketing efforts, I might be willing to forgo all the regulation.
But what does this regulation give us? Prosper is more on their toes & accountable about false & misleading advertising of their products. We get statements of the companies financial health which is critical given that they will own any future loans created.
It also makes the investing world easier to navigate by having at least some standards to go by & knowing that the outright hucksters & frauds will avoid SEC regulation.