海阔天空

蓉儿, you know why banks are weak, right?

did you hear the story in CA, where a family with 9 kids just walked into their  foreclosed home this week. and said this is our own we were foreclosed illegally,  it was all over news media, imagine if everyone does that, and police could not do anything, their lawyer had paperwork of that foreclosure fraud, so they are going to stay there for months not paying anything.
basically problem now is all the MBS and mortgages are now owned by banks and that is about 160B between big banks and they have no paperwork for 160b. so 160B is not coming back from their balance sheet. they have to take that off.