Gretchen Morgenson has an excellent and potentially earth shattering piece about Mortgage Foreclosures that can potentially obliterate the entire securitization market.
www.nytimes.com/2009/10/25/business/economy/25gret.html?_r=1&pagewanted=print
This is just a continuation of an earlier piece on MERS
www.nytimes.com/2009/09/27/business/27gret.html?pagewanted=print
We all should throw a party for Judge Rakoff and Judge Drain.
Karma is a Bitch!
I will have a much more in depth piece about MERS and the entire sordid securitization business in a post real soon.
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