Okay, I will speak up on behalf of Section 8.
Maybe it’s too broad, but there has to be some protection for our tax dollars against the ravening horders of plaintiffs trial lawyers who will look at the Treasury intervention in the mortgage securities markets and lick their chops.
Here we have one institution broken by liberal politicians meeting another institution (our court system) broken by liberal judges.
Remember the obscene tobacco cases in which the sleazy plantiffs bar enriched themselves to the tune of billions of $$$ and then poured much of that money into political campaigns to support their ‘Rat political enablers?
When the Treasury (i.e., our tax dollars) intervenes in the mortgage securities market, there will be winners and losers and the last thing I want to see is additional billions of our money walking out the door to sleazy plaintiffs lawyers bringing class action market manipulation suits against the Treasury and being second-guessed by corrupt, dopey liberal judges.
Honestly, if I had a choice between the government buying bad mortgages with $700 bil on my money (and letting the originators of those mortgages walk away laughing with their bonuses) or letting a pack of hungry trial lawyers scavenge the whole thing to the bones, I’d just as soon let the lawyers have it.