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To: John Metcalf who wrote (102402)	9/23/2009 2:30:11 AM
From: Hawkmoon	Respond to of 116555

Here's a slight variation on the businessinsider article you posted. It claims that these 60 million mortgages were originated as part of a criminal operation: trueslant.com And the underlying article it links to by Ellen Brown: globalresearch.ca Was wondering why there was so much activity in ABK and MBI today and now I think I know. IF the mortgage securitization industry was found to be without legal standing, then the insurers have the ability to assert violations of "Representations and Warranties" and nullify their liability to insure them. In fact, what this seems to indicate is that the CDOs will need to sue the banks and force them to take that mortgage paper (of which the CDOs consist) back onto their balance sheets as the mortgagee. And oh yeah.. we haven't even discussed the repercussions to the CDS markets. No one going to buy a CDS is they can't legally enforce it. Hawk