This is the kind of finance and investment situation, which had cried out for greater and better regulation, oversight, and perhaps political consolidation as well, long before the mortgage backed securities debacle.
Now, the situation is played out, state by state, and courthouse by courthouse, with the usual tales of overbearing influence, corruption, and abuse.
Had it not been the free play of market forces that fomented the scenarios we see unfold?
Securitization, even, of the unconscious; id overcoming superego.
The foibles of the purely legal side, as these cases are litigated, are the least interesting; but those legal issues, legal concerns, frauds and legal fictions now on a colossal scale, futile objections, were the ones previously overriden by the investment machines; and overriden now by judges on the ground as well, it seems, in the headlong grind of local foreclosure case overloads, if the assertions of article are to be believed, in a legal system not at all geared for massive securitization breakdown.
Could it have been any other way?
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