Bloomberg TV Chris Whalen Calls Foreclosure Crisis a “Slow, Wasting Cancer”

In other words, the crisis is not going to be one big dramatic event for which the media is searching. Rather, and more ominously, it is slowly eroding the property tax base, the middle class, property law, and the American dream right before our eyes.

Whalen makes key points about securitization and its effect, the same points we have been trying to get Arizona judges to understand, or if they understand, to act on, rather than tossing every homeowner case out on the pleadings:

Interview Video


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