Top of the chain is "dumb money". Like pension funds and municipal or foreign funds. Those got destroyed in 2008. The Fed can only absorb so much (currently at

Top of the chain is "dumb money". Like pension funds and municipal or foreign funds. Those got destroyed in 2008. The Fed can only absorb so much (currently at a record 30% of mortgage bonds). Banks and the financial markets are not stupid and quickly resell everything. In 2008 they were caught with just ONE batch of mortgage backed securities and it bankrupted a couple. It's not going to happen again. It's dismaying how GP proposes such a terrible idea. And what worries me the most is the majority of voters have the same feel-good ideas. We are going to get screwed from both sides.