In one of the more ironic outcomes for Wall Street, foreclosure mill operator David STERN seems to have sold his bank office foreclosure operations to a Special Purpose Acquisition Company in December 2009. The story appeared on Friday in the New York Times:
"Foreclosure Crisis Trips Up a SPAC" (October 15, 2010, 10:00 am)
So once again, the JOKE is on US! Your municipal pension fund may actually now own the foreclosure mill turning out all of those robo-affidavits (and the source of the continuing stream of new depositions)!