“The mortgage-foreclosure mess could prove expensive for banks and investors. But in some states, it will also prolong an unintended economic stimulus: free housing for millions of defaulters.”
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They are crazy to assume this was an “unintended” stimulus. The moment they started with the foreclosure moratoriums and other stall tactics, some of us were calling it one of the biggest forms of stimulus around. IMHO, this was intended from the start, and the “new” robo-signing scuffle is just a continuation of this stimulus. They know the economy is too weak to handle reality, so we’ll continue with this farce for as long as possible. The only question is how long it can last.
