This is a major story and is not getting enough attention. Who in ther right mind would buy a forclossed home in the US wnen they are not sure of wether they will have clear title.

My father's had his Florida condo on the market since 2007 (I told him to sell in 2006, but that's a different story). He paid cash and has clear title. I said, advertise your place as "guaranteed clear title." Since nobody else can sell right now, that ought to draw a few bids...lol.

The one thing that makes a democracy stand out from a bannana republic more than anything else is property rights. Knowing that what is yours is yours.

Where do these now stand in the US?

This is the crux of the matter as I see it. Forget the money, this is about confidence, and when that's gone, so is everything else. The dollar's been selling off since June 2010, about the time this problem first surfaced. The currency markets rarely get it wrong, and they almost always lead.

As big as this whole thing is, so far it's only the residential market. We've yet to hear from the commercial side. How much of that was improperly securitized? I guess we'll find out.

ebear