Take a gander at this securities lawsuit recently filed against David J. Stern and pending before Judge Zloch that allegedly unpeels the layers behind his large and intricate mortgage foreclosure business.
I like this part of a speech purportedly given at a stock conference:
No matter what Obama rolls out, there is no stopping this inflow of continued defaults that we anticipate to go for another two or three years late behind that is the math of REO’s that need to be liquidated and at the end of the day, the cycle will start again. Well, foreclosure volumes through 2012 are expected to increase dramatically and remain at high levels going on till 2017.From your lips to God's ears baby -- onward to 2017!
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