Conservertarian Self-Parody of the Day
By Mike Konczal has a nice catch from this Arnold Kling post:
However, the %&*#^ lawyers for the borrower come in and claim standing to challenge the foreclosure on the grounds that the foreclosure notice was sent by someone who has not properly documented that he is the noteholder. Legally, they may have standing to do this. Morally, they do not.
The sensible policy would be for the government to step in and legislate that borrowers have no standing to sue unless they are claiming to have complied with the terms of the note.
In other words, the greater resources and knowledge of powerful actors is not enough — government should intervene in order to explicitly fix into law the “moral” idea that the rule of law should be a one-way ratchet in which ordinary people have to abide by contracts but corporations, wealthy investors, etc. do not. This is a type of morality, I guess; whether it’s an attractive one I will leave to the reader.