Full circle (or spiral). What is the end result? You start off with the investors having money and now they don’t. You also start with people who own their homes and now they don’t or won’t soon enough if these fake Foreclosures are allowed to continue. You start off with banks being strictly intermediaries with no stake in the transaction. But in the end, the intermediaries own all the homes and have all the money. What is wrong with this picture?
GSEs Remain Backdoor Bailouts for Banks
http://www.ritholtz.com/blog/2012/09/gses-remain-backdoor-bailouts-for-banks/
The Hedge 