Wait till all those folks who have been kicked out of their homes get lawyers, or, more likely, lawyers go get the evictees. This is going to play hell with the whole concept of private property in land. If it happens that half of all the real estate in the country or more is unable to ever again get unclouded titles the government will assume at some point the responsibility and maybe the titles.
The potential mess is giant. You got that right. What do you think the risks are for anyone that picked up a foreclosed home?
And guess which political party this will benefit?
Confiscation of private property is a tenet of the Marxism.
Government already has the responsibility and authority to maintain records of titles, deeds, mortgages, etc. -- county governments, in accordance with their respective state laws.
Banksters tried to thwart the county systems, to save money and to perpetuate massive frauds. They gambled, and they should lose all claims of interest in any property associated with MERS. Taxpayers are not responsible for this mess.