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Is there anyone around who can explain in 3 sentences without too many economical terms what the foreclosure fraud MEANS?

It means either the entire global economy has gone bye-bye or governments are going to have to toss out current banking laws and regulations and start over because $14 trillion dollars of Collateralized Mortgage Obligations (CMO) just went south and who knows how much in derivatives based directly or indirectly on CMOs that are now in legal limbo land.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Wed Oct 13th, 2010 at 08:55:52 PM EST
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