It will be hailed as god news: in the coming months home mortgage foreclosure rates will plummet. Look for transient rises in stock market averages on this news, but remember: It's happening because the foreclosure system is very badly broken.
About a month or two after the banksters start getting the legal mess sorted, look for foreclosures to unexpectedly start taking off like a rocket again. Somewhere in the mix, the Too Big To Fail banks may lose a few gozillion dollars. Some of them might actually fail because of this. Unexpectedly.
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