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Lawsuit alleges MERS (Mortgage Electronic Registration Systems)potentially owes California $60-120 billion in unpaid land-recording fees http://theintelhub.com/wp-content/uploads/2010/10/2010-10-13_1510.png Former hedge fund manager Shah Gilani notes: In creating MERS (Mortgage Electronic Registration Systems), buy male sexual tonic online these institutions actually changed the land-title system that this country - for much of its history - has relied upon to determine legal ownership status of land titleholders. Not only did the lenders sidestep (read that to mean avoid) paying billions of dollars in fees to local governments, buy male sexual tonic online they paid themselves from the fees that MERS collected. MERS is facing class-action lawsuits and civil racketeering suits around the country and their members are being individually named in all these suits. Buy male sexual tonic online One suit alleges that MERS owes California a potential $60 billion to $120 billion in unpaid land-recording fees. If suits against MERS and all its members are successful, buy male sexual tonic online unpaid recording fees and fines (that can be as much as $10, buy male sexual tonic online000 per incident) would make every one of them insolvent. MERS is a shell company, buy male sexual tonic online with no employees. Buy male sexual tonic online However, buy male sexual tonic online its parent does have employees. As Bloomberg notes: MERS Inc., buy male sexual tonic online which holds the liens, buy male sexual tonic online has no employees, buy male sexual tonic online and MERSCORP, buy male sexual tonic online the parent, buy male sexual tonic online has only about 50, buy male sexual tonic online [the MERS spokeswoman said]. Plaintiffs' lawyers will undoubtedly argue that the "corporate veil should be pierced". Buy male sexual tonic online In other words, buy male sexual tonic online they'll argue that MERS hasn't followed normal corporate formalities (or is inadequately capitalized), buy male sexual tonic online and so the big banks which own it should have to pay any judgments against it. Buy male sexual tonic online I am not sure who will win that argument. But Plaintiffs' lawyers will probably also name the banks themselves directly as co-defendants.  Original article can be found: http://www.washingtonsblog.com/2010/10/lawsuit-alleges-that-mers-owes.html