"There's trouble, my friends, and it is does indeed involve pool(s),
but not in the pool hall. The real monster is hidden in those pools of
subprime debt that have not gone away.

[...]

"Anyone who tells you the housing problem is "bottoming" either has an
agenda or simply does not pay attention to the data.

"[...] prices are likely to fall another 20%.

[...]

“The move by the United States Congress last week, to sneak by the
Interstate
Recognition of Notarizations Act? That was all the banking lobby. They
wanted to shove
down that law, so that their foreclosure mills’ forged and fraudulent
documents would not
be scrutinized by out-of-state judges. (The spineless cowards in the
Senate carried out
their master’s will by a voice vote—so that there would be no registry
of who had voted
for it, and therefore no accountability.)

“And President Obama’s pocket veto of the measure? He had to veto it—
if he’d signed it,
there would have been political hell to pay, plus it would have been
challenged almost
immediately, and likely overturned as unconstitutional in short order.
(But he didn’t have
the gumption to come right out and veto it—he pocket vetoed it.)

“As soon as the White House announced the pocket veto—the very next
day!—Bank of
America halted all foreclosures, nationwide.

“Why do you think that happened? Because the banks are in trouble—
again. Over the
same thing as last time—the damned mortgage-backed securities!

[...]

http://www.frontlinethoughts.com/art...p?id=mwo101510

OMG!