Foreclosure Fracas: The Washington Post reports that as many home loans have fallen into default and banks have sought to seize homes, judges around the country have increasingly ruled that lenders had no right to foreclose, because they lacked clear title. But the problems don't end there. As the Post puts it, "If millions of foreclosures were invalidated because of the way the hurried securitization process muddied the chain of ownership, banks could face lawsuits from homeowners and from investors who bought stakes in the mortgage securities - an expensive and potentially crippling proposition."
Privacy? On the Internet? The Fulton County Daily Report has an article examining a set of potential class actions against three Internet powerhouses raises interesting questions about how law enforcement agencies get information about Internet users without their knowledge. The suits claim that Comcast, Yahoo and Windstream have violated federal wiretap and computer privacy laws by providing information in response to warrants or subpoenas issued by Georgia judges or magistrates, which are then faxed or otherwise relayed to the Internet companies' headquarters outside of Georgia.
About that Flash 'Crash': The Wall Street Journal reports that the so-called May 6 "flash crash" was caused by a little known mutual fund based outside Kansas City. The $27 billion Asset Strategy Fund, run by Waddell & Reed Financial Inc., is bigger than most hedge funds and, by some measures, acts like one.
U.S. Talks to Insurgent Group: The Guardian is reporting that the Afghan and US governments have recently made contact with one of the most fearsome insurgent groups in Afghanistan, the Haqqani network. The Haqqani network has a reputation for ruthlessness and has the closest ties with al-Qaida. But Kabul and Washington have come to the conclusion that they cannot be excluded if an enduring peace settlement is to be reached, the paper reports.