Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: The Ox who wrote (38159)	2/15/2008 3:03:06 PM
From: willcousa	Read Replies (1) \| Respond to of 95735

I mean "recourse" in the sense of a right to reimbursement held by the pool in the case of default. To recover one only has to show that he is not getting paid. To pursue fraud one must prove that the broker was a party to the fraud. That comes down to a case of whether you believe the broker or the borrower. The broker will say he was lied to. The bank probably was not a party to the fraud because the bank did not know of the fraud. It didn't care because it had a ready way to resell the loan to someone else.