Redefining Home Ownership
So? Whose house is it?
Millions of U.S. mortgages have been shuttled around the global financial system - sold and resold by firms - without the documents that traditionally prove who legally owns the loans.
Now, as many of these loans have fallen into default and banks have sought to seize homes, judges around the country have increasingly ruled that lenders had no right to foreclose, because they lacked clear title.
I think the SEC should apply the same rule to HFT robot Bernanke jerk off trading and claim ownership of the trade is actually sort of vague and require clear title or at least a human being behind the trade to call it legit. Just my $0.02. Would clear that rally bullshit right up now wouldn't it?
It's getting ugly out there, be careful.