11.08.2007

Hot potato, hot potato

Tanta at Calculated Risk has a great post on Cramer vs. Cuomo vs. eAppraiseIT vs. WaMu vs. Fannie Mae. The latter three are playing a game of hot potato with pools of fraudulent mortgages. Cuomo is shining a light on the sordid mess. Cramer is crying that if you drive the fraud out of the mortgage business, there won't be a mortgage business.

It's an enlightening post on the possibility of pushbacks from the investors onto the originators. That possibility is likely to be the end of Countrywide.

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