From Pine View Farm

Update from the Foreclosure-Based Economy. Also, Dustbiters. 0

In a blow to the banking industry which sent bank stocks downward, the Massachusetts Supreme Judicial Court has ruled that, when banks bring cases for foreclosures, actual evidence must be presented:

The state Supreme Judicial Court today upheld a judge’s decision saying two foreclosures were invalid because the banks didn’t prove they owned the mortgages, which he said were transferred into two mortgage-backed trusts without the recipients’ being named.

Wall Street bankers are stunned that what they say may not go and pledge large temper tantrums and whiny-fests until they get their way. Also, campaign contributions.

In other news, the FDIC shut down another bank: First Commercial Bank of Florida, Orlando, Florida. Sources indicate that actual evidence was involved.

Updates when if more banks bite the dust today.

Updated:

Another one bites the dust, leaving behind a legacy of universe-mastery:

Share

Comments are closed.