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Friday, October 15, 2010

David and Goliath

Here's a story that made a ripple!

http://www.nytimes.com/2010/10/15/business/15maine.html?_r=1&hp

And on NPR yesterday, the story you might have expected: a foreclosure stalled when the attorney simply said: "Show me the note." Seems you can't collect on a lien you don't actually HAVE! And the bundled and re-sold and re-sold mortgages of the housing crisis are a mess.

A BIG BANK can shudder and grow very silent if it appears that the mortgage-based cash flow could suddenly stop. Stop as in dead!

Basics matter, in banking, in huge financial schemes, just like in cooking the eggs for breakfast. There's a story in there for faithful, mission-minded theological folks, as well. Ya gotta do what ya gotta do! Just keeping things pacified, keeping people happy at all costs, doesn't serve the mission.

You ever wonder about that?

B

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