Another Opportunity to Buy the Banks

oldpigwang

Another Opportunity to Buy the Banks

by Jim Cramer


Who owns the mortgage? How do we foreclose on people when we don't own the mortgage? That's the crux of the ruling by the most liberal state court in the land, Massachusetts', which is staying two foreclosures in the commonwealth. What a nifty reason to sell the banks off. A stay in the foreclosure process. Why not sell? Because we just went through this process a couple of months ago. We just had the fear that all foreclosures were going to be halted because of this kind of logic. It amounts to nothing. So will this ruling. To me, this Massachusetts court decision is one of those McGovern issues, as in George McGovern, the presidential candidate who swept Massachusetts with a huge win in 1972. Monster win. Definitive win. But he lost the other 49 states, which, amazingly, was far more telling than what happened in the most liberal..