Our modern marketplace for investment in the formation and growth of public enterprises is imperfect, but it still works. It is a mechanism to transfer the wealth of the public to the companies we formulate to produce things; they are a reflection of our country and our people as a whole. The market can go mildly wrong or it can go terribly wrong. When it is mildly wrong, it present buying opportunities to shrewd investors, when it goes terribly wrong, it can become a machine of economic injustice.
The recent decision by the Massachusetts Supreme Judicial court helped focus a few important questions on the foreclosure crisis in America, but it is also being used as a Red Herring, amongst other things, by the American Securitization Forum and their Bank owners. The Massachusetts land court decision, which was affirmed by the Supreme Judicial Court were correct, but only addressed a narrow specter of the foreclosure crisis in our country and the underlying violations of long standing property law. The case does point however to much more fundamental issues.