Securitised Mortgage Debt Threatens Second Phase of Financial Crisis

"It has been revealed that Bank of America, JP Morgan and numerous other banks will be halting all foreclosure activity due to incompetence and possibly fraud related to the packaging, pricing, and trading of the underlying collateral in thousands of mortgage-backed securities. Some analysts are warning that there are financial weapons of mass destruction lurking in the securitized mortgage debt market and that they could potentially lead to another banking and systemic crisis..."