State of the Union: Securitization is Running Amok and Taking Us All down With It

LivingLies: “Since 2000, more than 20 million people have been wrongfully displaced from their homes by parties invoking foreclosure laws, millions more lost jobs, and millions more suffered loss of economic opportunity, status and income as investment banks now masquerading as commercial banks continue to rake in huge amounts of revenue — sharing none of it with the investors who put up all the money or the borrowers who put up then lives, their signature, their credit reputation and their homes.”

DC Editor: 20 million is a very low figure considering over 100 million homes (2.5 persons per HH) have clouded titles. Just because they don’t know it yet – it is still problematic

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Source: State of the Union: Securitization is Running Amok and Taking Us All down With It

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