Now and then the Wall Street Journal gets caught in its own BS.
This was one of them, and their collective head will be delivered back to them (FedEx) on Tuesday or so.
The Journal thinks that the Banks should get either their money OR the house. After all, they lent the money (sorta) and the home-owner didn't pay them back.
But the Journal took a step too far when it also endorsed running the foreclosures without the 'actual legal paperwork' stuff.
Enter Ticker:
Has anyone considered that if we no longer have a rule of law and we no longer have due process that there are 330,000,000 Americans who just became empowered, under the very standards put forward by The Journal's Editorial Board, The Banks and our Government, to issue their own declaratory judgments and carry out their own sentences?
Damn, that makes for a tough question. Blankfein & Geithner or my next-door neighbor.
Hmmm.
Don't bother me while I think about this, dammit.
We've re-fi'd our house (purchased 1999) twice to get a lower rate. I seriously doubt that the outfit that holds the paper now could actually prove that we owe them money. I pay the note every month, however. The WSJ needs to eat a few bowls of STFU for breakfast for the next few weeks.
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