Editor’s Comment: It is no small wonder that the banks are scared. After all they created MERS and they control MERS and many of them own MERS. The Washington Supreme Court ruling leaves little doubt that MERS is a sham, leaving even less doubt that an industry is sprouting up for wrongful foreclosure in which …
Banks Trying to Get Bill Through Congress Protecting MERS Read More »
SEE The Economics and Incentives of Yield Spread Premiums and Credit Default Swaps March 23, 2010: Editor’s Note: The YSP/CDS paper is intentionally oversimplified in order to demonstrate the underlying economics of securitization as it was employed in the last decade. To be clear, there are several things I was required to do in order …
For all the hoopla about moratoriums on foreclosures and other debt collection, the reality is that the only reason they are doing it is to figure out a way out of a mess founded in one inescapable FACT: the mortgage, the note, the credit card, the student loan, the furniture loan and all other consumer …
October 23, 2008 Alan Greenspan was wrong today when he said that investors did not look critically enough at the ratings. Finance is based upon trust, and these companies had been trustworthy for many decades. Here is the real story. The very notion of pooling is and was illegal. Allocation of payments, recording statutes, recording …
