As much as I dislike Sharron Angle, Harry Reid is a liar. He could have protected Americans by stopping the ill fated Robo-Signature bill from passing, but he didn't. This guy is scum. He has proved it and he has ruined his career. I hope he doesn't get reelected. Since I can't vote for Angle I am staying home. But Reid should be retired, since he could have done the right thing and stopped these robo-signatures.
Regarding the people who buy foreclosures, I have been saying that they could lose title. Now Zero Hedge is saying the same thing.
Unless the banks offer some sort of serious monetary settlement to the foreclosed people, then the title could go back to them. But if the congress fixes it going forward, with settlements for these people as an option, they should not be able to go back and give the banks and the foreclosure buyers title by some odious new law.
Certainly Bank of America is worried about the dismal scenario that would give foreclosures back to the people who lost their property. But perhaps the dismal scenario was to ever let these mortgages enter mortgage backed securities through the repeall of Glass-Steagall in the first place.
The banks are at fault. They wanted securitization and now they have this. Jack S Cox, of Palm Beach County, is a Bad Judge.
You need to contact him and tell him. Tell him that foreclosure mills are bad and that he is bad for refusing to shut them down or allow investigations of them. Jack Cox is a bad judge. Tell him how you feel. Here is the Palm Beach County contact resource. Example of a foreclosure mill's tactics found here.