Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Under this nightmare scenario it will be extraordinarily hard to determine loan quality and losses and very hard to foreclose against borrowers that can afford attorneys (admittedly a minority) and that claim fraud in the inducement.

and how is that a nightmare for the majority of people involved?

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Mon Mar 2nd, 2009 at 04:15:33 PM EST
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