Good news on the Foreclosure front

It appears that in the rush towards securitization of mortgages and other crucial investments, the big players created a weak system whose critical legal shortcomings may ultimately undermine any claims they may have on millions of homes nationwide.

There is a wonderful explanation of the issue at hand in other places, however I will say this much.

For years now big banks in the US and globally have managed to distort the rules of the game far enough to screw large portions of the world’s populations out of their savings.

American homeowners are a small portion of the  affected people, however they are a powerful segment. Thus any such news is good news in the global struggle against unrestrained corporate power.

There is a saying: “O what a tangled web we weave, when we practice to deceive.” There is a good reason for why such homilies have survived – in one form or another – through hundreds of generations and thousands of years of human culture. They are true. And now perhaps the financiers can have their turn at experiencing the truth in these words.

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One Response to Good news on the Foreclosure front

  1. Pingback: Foreclosures, Hate Crimes and Corporate Makeovers | Freebits

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