[Wuli]

I expect the suit will fail, by it’s inability to prove that “result” was determined and driven by “intent” and its inability to prove that will be due to its inability to show that the “results” it is suing to correct were the “most common” results for most mortgages in the system.

Were the mistakes it is suing to correct the intended results of the defendents actions, they would be found as the kind of results for most mortgages in the system - they’re not.

The mistakes that were made ought to be corrected. The NY state treasury does not deserve a big financial windfall for itself due to those mistakes.

[vollmond]

I think the real purpose for the suit is to pressure Congress to shelter the banks and MERS from the consequences. The banks pay off the state governments, and homeowners and share holders get hammered.

There's also the added benefit of public pensions taking a hit when their portfolio values drop, requiring raises in taxes to cover it.