Up to $6.5 trillion in mortgage-backed securities debt may be in jeopardy. Subprime borrowers may have an escape hatch — no paperwork providing standing to sue!

A federal judge in Ohio has ruled that a Deutsche Bank trust failed to show standing to foreclose on 14 mortgages held as mortgage-backed securities, since it hadn’t produced original assignments from the mortgagors.  The problem is, original assignments may not actually exist.  Signed hard copies are required to foreclose, and the original signed mortgages have been left in a file [...]

U.S. banking system headed for bankruptcy?

The SIV superfund bailout resembles the accounting fraud in Enron, and it’s liable to end just as badly for the banks . . . .  
 Jim Willie, “Deadly Dollar Confluence,” 11-8-07 
http://www.financialsense.com/fsu/editorials/willie/2007/1108.html
“The banking distress is nowhere near ended, steadily denied as almost fixed, yet every passing week it seems yet another new remedy bailout rescue package feature [...]

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http://www.webofdebt.com/articles/war-with-iran.php
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http://www.webofdebt.com/articles/energy-costs.php