At first blush it may not appear to be civil, ethical or moral to stall housing foreclosures by demanding that the "lender" have their paper work together to substantiate their claim to the property. But on a larger scale it forces the banks and the Federal Reserve to stare into a gapping hole in the system that they both profit from. It could very well benefit us all in the pulling in the reigns of having an economy and currency system that is built on little but promises and lots less substance. A system like this is fine if you have a huge corporation or the gov't behind you when such promisory exchanges are made. It's a completely un-level playing field in an economy whose currency is to be of equal value reagrdless of the status or size of either the "lender" or the "borrower". While the banking industry can lend money stictly as an accounting entry, by what authority have they to do this. As it is, these "lenders" can acquire, sell, and forclose on "borrowers" arbitrarily, when quite often, they can show no tangible claim to the properties other than a "he said" from another institution. Let Jane and Joe Public try that when trying to purchase or sell their house, their cars or for that matter, groceries. So let these folks balk and call the banking industry on the technicalities of it's authority. They are doing us all a solid.
Read the Article at HuffingtonPost
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