Now that Matt Blaze has released his report, everyone should be paying attention because my experience is that it will not be very long before technically-savvy activists begin to retaliate, just like they did against major bankcard facilities in reaction to the shutdown of WikiLeaks ability to accept credit cards for payment.
When lots of similar receivables are bundled together in an asset-backed security, the average rates of default, late payment and pre-payment are predictable, so both issuers and investors can be relatively confident of their ability to value the security properly.