He is looking into coving it up that is.
Gotta keep those poor homeowners with mortgages too big bought off ya know.
Nothing good can come of this.
There is clearly a serious issue on the chain of title for mortgage holders. But Holder will end up changing it into an evil mortgage holders issue and demagogue the whole thing—he will hold out the possibility that folks will get their homes for free.
If he does this, it will make it very difficult to solve the real problem. And it’s very important that it be solved. If mortgagors become unable to foreclose, the whole shebang will come down fast and make the great depression look like a bed of roses.
I expect cooler heads to prevail—even in this administration. Obama’s economic team has been bad but they are not so stupid that they cannot see the consequences of removing a substantial part of the security that every bank and financial institution in the world relies on for solvency and a substantial part of the security on which the CDS’s still depend. There’s not enough money, even in Obama’s fantasy world, for the government to FDIC all the banks in the US.
Is he looking into it like he “looked into” Black Panther voter intimidation?
It’s true, and it’s been going on for years whenever debt paper is sold.
“More ‘blood in the water’ or another ‘red herring’?”
Blood in the water. The lenders screwed up big time. And it doesn’t help the lenders that there happens to be a ‘soak the rich’ focus in the executive branch.
The lenders deserve the flogging they’re going to get. Not because of their economic status, but because of their egregrious conduct.
Holder smells money in the form of campaign contributions.
MERS
the law firms
the banks
will all pony up campaign contributinos, holder will blame Bush and say no wrong.
Have to admit, I’m not “up” on this subject, but anything that Holder’s behind must be viewed with EXTREME suspicion.