[cynwoody]

The larger problem facing the mortgage industry is the speculation that a single mortgage was securitized more than once. “Look Out Below!” if this is the case.

Speculation? I thought recursive securitization was the rule, not the exception. The problem being, that, unlike your typical open-source programming language, they are unable to give an accurate stack trace when a fault is thrown. Judges must insist on an accurate stack trace, even if the lack thereof means deadbeats keep their houses. It's called the rule of law. Or #pragma ownership-chain strict, as the computer geeks might call it.

[cornfedcowboy]

It’s called “the rule of law”

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I totally agree with your sentiment. Problem is that the current generation is guided by “the rule of man”.

Just wondering, did the bank bailouts secretly clear the books on these multiple mortgage back securities?