To a large degree the overall wealth of the country is based on clear title to real property. Clear title means you can prove that you own your house.
But, if the legal basis for real estate ownership is unclear, it will be difficult to create ANY new wealth in the economy.
And, if there is no new wealth, then there will be no economic growth.
Further, without economic growth, we will continue the vicious cycle of unemployment and shrinking wealth we see today.
Just another gift from the criminal bankers.
Read it here: www.ritholtz.com/blog/2011/10/mers-has-broken-or-diluted-chain-of-title/
So Barry, fix it first, then jail the SOB's.