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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (371963)	2/25/2008 7:11:24 PM
From: tejek	Read Replies (1) \| Respond to of 1576891

Judges in at least five states have stopped foreclosure proceedings because the banks that pool mortgages into securities and the companies that collect monthly payments haven't been able to prove they own the mortgages. The confusion is another headache for U.S. Treasury Secretary Henry Paulson as he revises rules for packaging mortgages into securities. ``I think it's going to become pretty hairy,'' said Josh Rosner, managing director at the New York-based investment research firm Graham Fisher & Co. ``Regulators appear to have ignored this, given the size and scope of the problem.'' Amazing isn't it.......lenders like WM didn't even do enough DD to make sure that they got a valid mortgage note for the loans they were acquiring. That means they can't foreclose on defaulted property. Its a three ring circus. And yet the board of WM does not fire the CEO.