Subprime Mortgage Losses: Accountability!

Implications: Filing the lawsuit for home loan problems is easy, winning will be the real problem!The Supreme Court seems to be raising the bar on the burden of proof!

Analysis:      What we seem to be seeing now with the subprime losses & accountability appears a deja vu to the savings & loan issues in the early 90's.  Entities continue to paint the best picture possible & at times may cross that fine line to distortion, yet the American people fall for it time after time.  Problem is the legal system continues to make it harder to collect.  Maybe its time to shift the burden of proof a little.  Did we learn anything from Enron & Worldcom?   What the reality may be is these suits are arising just when the market in general is doing bad; is this just a coincidence? Some say it is definitely time for some checks & balances & for the large profits of some entities to undergo some scrutiny, while others are of the opinion some are just looking for a bail out on their own unwillingness to see what was right in front of them.  In most instances the aggrieved party is not a sophisticated user of loan services, but buying swamp land in Florida is still what it is. Alot of the people who are struggling with the loan crisis should never have received these loans in the first place as like with most pay back is at times is based on best case scenarios.  Remember Murphy's law, saving for a rainy day & caveat emptor? The Court system is there to help those that have been wronged, proving fraud, however, may be less likely than once thought; potentially thanks to President Bush!  http://www.salon.com/politics/war_room/2008/04/14/hud