Daniel Indiviglio finds 74 studies nestled within the House and Senate financial reform bills. One of these is titled “the effect of drywall presence on foreclosures”. I dug into the house bill and found out that it is even more absurd that you might first assume:

Subtitle J: Study of Effect of Drywall Presence on Foreclosures – ( Sec. 9901) Directs the HUD Secretary to study and report to Congress regarding the effect upon residential mortgage loan foreclosures of: (1) the presence of drywall imported from China between 2004 and the end of 2007; and (2) the availability of property insurance for residential structures in which such drywall is present.

The amendment that created this study was offered by┬áMario Diaz-Balart of Florida, and according to his website he is a member of the “Congressional Contaminated Drywall Caucus”… yes, such a thing does exist.

Financial reform seems to be getting distracted.

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