This type of securitization pawn entity is not an example of the kind of 'reform' I have suggested is needed.
Quite the contrary.
In fact, it is an example of why I have suggested reform and consolidation, at a government level, rather than by quasi public entities in cahoots with large private ones.
Cf my comments on Bill Gates comments below, re why not let wonderful private sector accounting or bookkeeping entities, like for example MERS, brainchild of some of our biggest and best private entities, take care of our well being:
Bill Gates criticizes states....
Everyone can see that thousands of picayune county clerks' offices, and their myriad idiosyncrasies have ill served their clients, even though many of them have modernized and put on line their title docs, etc.,
but on the other hand, consolidation of these thousands of government recordkeeping functions should not have lead in the direction of a MERS type solution, in my judgment.
State and even local laws govern this area, and these have not played well with MERS.
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