How bad can this foreclosure mess get? – Pretty Bad

I for one consider myself to fairly informed. This foreclosure crisis is just that a crisis. It really is scary that innocent people can and very possibly getting kicked out of their homes for illegitimate reasons. I know that the people in power have to say the things they are at the moment to try and restore confidence, however this is no minor mix-up in the paperwork. This is serious, and people on all sides have a lot to lose.

This article jumped out at me while surfing some news sites,

The enormous mortgage-bond scandal by Felix Salmon.

Here are other various other reads that really express what is happening and how the people, like Mr. Geithner, don’t see from high above what has actually transpired down below at the individual level. I want to share it with you along with other various view points that really point to the fact that the so called masters of the universe, aka: Bankers, are really in fact incompetent ninnies!

Geithner: Foreclosure Freeze Would Be 'Very Damaging' 

Yes, Mr. Geithner they very well could be damaging, but to restore confidence in the system that seems to have been corrupted and left to run amok. Having a temporary freeze on foreclosure proceedings seems like a fairly sensible option. This is the hangover that the fed and the treasury let happen for not “taking away the punch bowl”. This is a the New Years Day hangover. So do what you have to do to restore confidence, including but not limited to, sending people to jail!!!

Foreclosure Crisis ‘A Legal Impossibility’

Here is a piece from the Securities Industry and Financial Markets Association, that’s says that imposing a system wide moratorium would be “catastrophic” for the economy. Please it would give everyone a chance to sort this whole big warm stinking pile of shit that was thrown against the fan a while ago and see what is really going on. I suspect that the financial services industry is scared that if people actually start to look behind the curtain and really see what the fuck they are selling, that the very possibility is there that we as a society may never let them say, “it’s ok, trust me”.