“Nothing like waking up in the morning and finding out a whole sector of the economy is completely screwed. Are these good times or what?”
Matt Taibbi reporting that the Kansas supreme court has ruled mortgages (at least in Kansas) cannot be foreclosed because the company tracking mortgage paperwork is so screwed up it borders on fraud.
The company tracks 60 million mortgages nationwide. Sixty. Million.
Or as Ellen Brown puts it in her report on the case (that Taibbi links), “The pirates seem to have captured the ship, and until now there has been no one to stop them.”