Should the Secondary Mortgage Market Enhancement Act be repealed?
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  Should the Secondary Mortgage Market Enhancement Act be repealed?		 « previous next »
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Question: Should the Secondary Mortgage Market Enhancement Act be repealed?
#1
Yes		  
#2
No		  
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Total Voters: 6

Author Topic: Should the Secondary Mortgage Market Enhancement Act be repealed?  (Read 325 times)
I spent the winter writing songs about getting better
BRTD
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« on: September 15, 2012, 05:33:50 PM »
http://en.wikipedia.org/wiki/Secondary_Mortgage_Market_Enhancement_Act

Yes, horrible law. Should be repealed alongside reinstatement of Glass-Steagall.
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True Federalist (진정한 연방 주의자)
Ernest
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« Reply #1 on: September 16, 2012, 12:03:06 AM »
Outright repeal, no.  The sudden divestment of MBS's by pension funds if SMMEA were repealed is not something that should be considered as it is a shock our system does not need right now.

What is needed most is restrictions on what sorts of MBS's qualify.  In particular, any new ones that slice and dice the mortgages across multiple securities should not qualify as investment grade.
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