“I think if Thomas Jefferson were looking down, the author of the Bill of Rights, on what’s being proposed here, he’d agree with it. He would agree that the First Amendment cannot be absolute.” - Chuck Schumer (D). Yet, Madison and Mason wrote the Bill of Rights, according to Sheila Jackson Lee, 400 years ago. Yup, it's a fact.
Despite the increasing use of high risk loans to support mortgage related securities,
mortgage related securities continued to receive AAA and other investment grade ratings from
the credit rating agencies, indicating they were judged to be safe investments. Those credit
ratings gave a sense of security to investors and enabled investors like pension funds, insurance
companies, university endowments, and municipalities, which were often required to hold safe
investments, to continue to purchase mortgage related securities.