| From Moneyweek.com: Three years after US banks first rattled global markets, they look set to deliver further nasty surprises. One worry is the impact of the foreclosure scandal. Lenders stand accused of using incomplete or falsified paperwork to repossess homes. Some have reportedly been unable to produce the original documents proving they own mortgages.
This will hit banks' bottom lines, although given the uncertainty surrounding the issue the ultimate toll isn't clear yet, says IMF chief economist Simon Johnson on Baselinescenario.com...........................................Full Article: Source
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