Some checks and balances from Ezra Klein:
Judges across the country are ruling foreclosures illegal because of faulty paperwork, report Brady Dennis and Ariana Eunjung Cha: "If millions of foreclosures past and present were invalidated because of the way the hurried securitization process muddied the chain of ownership, banks could face lawsuits from homeowners and from investors who bought stakes in the mortgage securities - an expensive and potentially crippling proposition. For the fragile housing market, already clogged with foreclosure cases, it could mean gridlock and confusion for years. And there is concern in Washington that if the real estate market and financial institutions suffer harm, it could force the government to step in again."
