The Second Leg Down of America’s Death Spiral

Thursday, October 14, 2010
By Paul Martin

by Gonzalo Lira
Gonzalo Lira.com

swear to God Almighty: Mortgage Backed Securities are America’s Herpes—the gift that keeps on oozing.

Last Friday, Bank of America announced that it was suspending all foreclosure proceedings, presumably until further notice. Other banks have already suspended foreclosures in a whole truckload of states. A nationwide moratorium on foreclosures might soon happen—which would be a big deal: Global Financial Crisis, Part II—Longer, Wider and Uncut.

The Rest…HERE

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