Quote:
Originally Posted by Finny61
But banks offer a product that most households require, accounts and mortgages to ensure they are secured. It's not that government imposes it to force you to have it but legally you need it to carry ownership. The banks have an oligopoly in place and it is firm, too many insurers have saturated the insurance market it is not a monopoly in the least it is very competitive depending on what insurance lines you look at, since auto is regulated there isn't much difference, for the other lines the market is made up of hard and soft cycles that look more normal.
The government interferes with banks much like insurers, they act as watchdogs.
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No one forces anyone to take out a mortgage and you can own a home without one. You can also rent a home without a mortgage. There is no such option with an automobile.