A diary of the thought process behind my investment decisions
try the mortgage foreclosure system clogging with an unknown percentage of rmbs having no legal claim on the underlying collateral
But why suddenly today? This news has been out.
The crisis is snowballing. The fact that JPM is backing away from MERS is important, and the attack by 49 attorneys general suggests that this will not just get "fixed" by congress and the executive branch. THis could be like the cracking of the financials in 2008--they were up massively in July and August on absurd hopes, and then when they started to slide downhill it took a while for them to pick up speed.
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