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Author Topic: Banks lose key foreclosure ruling in top Massachusetts court  (Read 4014 times)
sailor_tech
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« Reply #5: January 08, 2011, 05:06:02 pm »

I completely agree.  If the banks had not decided to indulge in crazy speculation and rampant greed, this never would have happened.

Sperran

I disagree. I don't consider it "crazy speculation" nor "rampant greed". It's innovative financing.  The banks have screwed that up big time thru their own lazyness (and possibly greed in the form of not wanting to pay transfer fees) the banks are screwed. To bad for the banks. So long as the banks et al don't get a bail out, maybe they'll learn to do the paperwork right next time.

The concept of bundling mortgages really isn't all that new, that was the point behind FDR's creation of Fannie May in 1938. Difference is the ease in which they were split up and re-bundled.
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