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james macklin
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Adam,, Nice post and great job at the Committee Hearings. It might just be me, but doesn't Mr. Deutsch sound alot like a spoiled kid who just broke his favorite toy (RMBS) and is shrieking at mommy to fix it or replace it...NOW?!? The courts are still attacking the Borrower position by saying: "you are not a party to these securitization contracts".. my answer to the courts: Read the definition of "Noteholder" in the Promissory Note, e.g.; "the noteholder is the lender, its' successors and assigns, and any holder entitled to receive payments"! Is the Borrowers' signature in place in this contract? Then, in equity, the true principals to the transaction are the investors and the Borrowers...period. What is your opinion as to the application of the step transaction doctrine as it would apply to these transactions? When enough Borrowers and Investors are brought into the same room, the horse will be out of the barn, down the road, and running like hell(straight to court). jim
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Dec 7, 2010