Counterparties

By Felix Salmon
January 12, 2011
Reuters

" data-share-img="" data-share="twitter,facebook,linkedin,reddit,google" data-share-count="true">

Look at how much Belgian CDS have gapped out since Thanksgiving on no new news — Reuters

What if utility and happiness are unrelated? — The Money Illusion

The World Erotic Art Museum sues Thomas Hawk for $2 million for taking photos there — Thomas Hawk

Unsurprisingly, I agree with Carney contra Laurie Goodman on whether Mass banks can get their legal papers in order — CNBC

Irin Carmon dismantles Caitlin Flanagan — Jezebel

More From Felix Salmon
Post Felix
The Piketty pessimist
The most expensive lottery ticket in the world
The problems of HFT, Joe Stiglitz edition
Private equity math, Nuveen edition
Five explanations for Greece’s bond yield
Comments
One comment so far

In theory, Laurie Goodman should be right.

However, it implies a certain level of competence on the banks’ part in at least rudimentary record keeping. The one consistent lesson from the past four years is: “The banks couldn’t possibly have been this incompetent!…..Oh, I guess they could.”

I wonder if is possible that some of the unscrupulous (rare, I am sure) recorded title holders could realize how badly messed up the banks’ documentation are and make a grab for the foreclosure themselves as the current official holder. I am sure that it would make for ugly legal theater, but probably could up the ante that the trustee would need to fork over to get a clean assignment, especially if a bankrupt entity like Lehman was the middle man.

Posted by ErnieD | Report as abusive
Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/