From Washington Post.com:
Cantor said that some of the “exotic sliced and diced” mortgage-backed securities at issue for the financial institutions are of such little value — because the underlying mortgages are already deep in foreclosure — that using the Republicans’ preferred approach of federally insuring them is pointless. “So you’ve got to go with Paulson’s model,” Cantor said today, endorsing the federal purchase of those securities to clean up the books for financial firms in distress.
In exchange, Cantor said he is seeking some sort of assurance that that the Treasury secretary would be allowed to create an insurance program for the other mortgages, charging premiums to the firms holding securities tied to those mortgages…