william the wie
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- Nov 18, 2009
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- #61
Loosecannon don't check with me because I am not a lawyer and certainly not a CA Real Estate lawyer but on the face of it the actions of the originators, securitizers and federal agencies may have triggered both RICO and the Takings clause. If so, then about $40T is going to vanish mostly in the hands of foreign banks and repo investors with the repo investors getting most of the money. Just about every title insurance company in the land that has insured more than two repos is going to file. The political effect of Obama retaining Bush's meltdown team is going to be major.