[Porsche-O-Phile]

Why is this such a crock of bull?

Without this provision, what's stopping you or me from sending out a bunch of foreclosure notices to people claiming to be the legal holder of their note?

While I believe hands-down that the current crisis is overwhelmingly the fault of foolish/stupid individuals buying beyond their means, the banks and lenders who were simply doing "pump and dump" loans are partially culpable too. Let them get whacked for it. Maybe it'll send a message that (gee-whiz) maybe it's actually smart to keep good records or (god forbid) hold your own paper instead of using it as a leverage vehicle.

I can't say I have a lot of sympathy for ANYONE who got the muck from this recent housing bubble on their hands. EVERYONE who participated is to blame and if the banks can't produce the notes, then to hell with 'em.