MBS: The Harpies That Won't Go Away

"Not enough fat fingers in the world to plug this collapsing dike."
---Anonymous Quant


MBS have so fouled investment in the US to the point where banks
have no risk guarantees and, therefore, implied permission to commit fraud.
Also to the point where the Government and Media are conspicuously silent
on the total destruction of centuries of Property Law. All the risk is with
the little guy as the banks graft ponzi-chia pets onto every piece of property.
If the homeowner defaults the banks gain more. Fraud and ponzi schemes
are incentivized.

The rule of law abhors the vacuum of our present Financial System. It shakes
the dust of dollars from its sandals and leaves the small investors and homeowners
to the Harpies.

Corporate Entities are gaining in rights as individual humans lose more.
Granting the Harpies more license only hastens collapse.

Here we witness the course of the feast where our Harpies turn
on each other--->Bank of America v. Blackrock and Pimco. Bank fraud
now steps on the toes of big investors. Congress and Obama reprise
the role of Pilate. Washing their hands while fraud runs free.
Markets will not "sort these matters out". They will simply pass the buck
to the least leveraged. Property Law is for the Banks to interpret and for the
people to dutifully observe.

Welcome to Fascism.