September 30, 2008
Publish All Mortgages We Buy
Eventually some sort of bailout bill will pass Congress but before it does, Dan O'Neil has a great idea for an amendment to the bill -- require public disclosure of all mortgage security instruments the government buys. Why? So the public can determine the underlying assets. In U.S. Government Should Publish All Mortgages It Buys, O'Neil explains, "We need this data. We should have had it based on SEC rules on disclosure -- investors in these funds should be able to know what they are buying. Now that it looks like we're all going to be the buyers, there is an even more pressing imperative."
Great idea and very do-able. Slow down Congressional websites by emailing your demand for transparency. See House websites slowed by e-mails on bailout bill. [JH]
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