Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: John Metcalf who wrote (102385)	9/22/2009 11:09:50 PM
From: Hawkmoon	Read Replies (1) of 116555

HOLY SH*T!!!! This could be HUGE!! The financial consequences of upholding it could also be huge for both the real estate markets (bottom) and for the holders of the derivative securities formed out of millions of mortgage loans. It's been one source of controversy that, once a bank sells off it's mortgage loan, it's standing to foreclose should require it to take the loan back on its books. So if the banks don't have standing to foreclose, could it be the insurers (monolines)? This is going to the SCOTUS, I'm sure... Hawk

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