The Lever just uncovered that Trump-appointed regulators at the U.S. Securities and Exchange Commission are laying the groundwork to bring back one of the core financial products that led to millions of foreclosures during the Great Recession — even as economic and climate conditions make its return all the more destabilizing.

The SEC is intended to act as Wall Street’s top regulator, yet it appears to be looking to revive the residential mortgage-backed securities market that was one of the main drivers of the 2008 financial crisis. Anyone who’s seen The Big Short knows that this is a disaster waiting to happen.  

These financial instruments ruined millions of lives while lining the pockets of nefarious actors who were never held accountable. After they got bailed out last time, bankers are salivating at another opportunity.

This cannot be allowed to happen.

Right now, you can send a message to your legislators and demand that they introduce legislation to stop the SEC from deregulating the residential mortgage-backed securities market. Tell them they must not allow us to return to the Great Recession.