Correction: Did you know you're in the title-insurance business?

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October 29, 2010 Dear Money Morning subscriber; Due to a technical error, this morning's issue of Money Morning omitted Shah Gilani’s column: "The "Mortgagegate" Scandal: Congratulations America, You're Now in the Title-Insurance Business" We apologize. Below is the article that was supposed to run in today's issue. Sincerely, William Patalon III Executive Editor The "Mortgagegate" Scandal: Congratulations America, You're Now in the Title-Insurance Business [Editor's Note: On Wednesday, in the latest development in the "Mortgagegate" scandal, Fidelity National Financial Inc., the largest U.S. title-insurance firm, reversed course and said it wouldn't require an indemnity agreement before insuring individual foreclosed properties. Money Morning's Shah Gilani, a retired hedge-fund manager, warns that there's a deep game being played, and provides investors with detailed insights, and advice on the steps to take.] By Shah Gilani, Contributing Editor, Money Morning U.S. taxpayers already own pieces of such problem-plagued companies as General Motors Corp., Chrysler LLC, American International Group Inc. (NYSE: AIG), Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC). Now the increasingly problematic "Mortgagegate" saga could land American taxpayers in the trouble-ridden title-insurance business. On Oct. 8, Bank of America Corp. (NYSE: BAC) indemnified Fidelity National Financial Inc. (NYSE: FNF) against any losses that Fidelity might sustain in litigation over title insurance it writes on foreclosed homes - the same homes, coincidentally, that Bank of America wants to sell to new buyers. This arrangement amounts to U.S. taxpayers, who are the ultimate backers of the Federal Deposit Insurance Corp. (FDIC), backstopping a giant, publicly held title-insurance company, which is backstopping a huge commercial bank, so that the bank can sell properties that it might not have proper title to. It sounds like a Wall Street version of the "Six Degrees of Kevin Bacon," but it's no game - it's a daisy-chain scheme that once again sets American households up as the biggest losers. To understand the latest "Mortgagegate" developments - and see the steps to take - please read on... Why This Stock Could Shoot from $7 to $140 At a small lab 35 miles outside Washington, D.C., scientists have made a biotech breakthrough that could help save the lives of 7.6 million people - per year! Not the Salk vaccine... nor penicillin... nor even open-heart surgery can compare to it's life-saving potential. This small company's stock is around $7 today, yet estimates show it could shoot as high as $140. But what is this drug? Why haven't you heard about it? And how could it return early investors up to 2,000%? All the answers - right here. Money Morning Mailbag We'd like to hear from you! If you have an idea that amplifies something you've read in Money Morning, send it to us here to share: mailbag@moneymappress.com. "ALL BRANCHES... of our government ARE IN BUSINESS with Wall Street..." from Money Morning Reader, T.S. Vote for Money Morning at.... Facebook Twitter Money Morning Quote of the Day: "Well, real estate is always good, as far as I'm concerned." -Real estate investor, TV star and millionaire Donald Trump Top Stories October 28, 2010 Taipan Daily: The "Secret" Global Alliances That Can Make You Rich October 28, 2010 An Open Letter to Washington: How to Fix the Deficit and End the Bush-Tax-Cuts Debate October 28, 2010 Hot Stocks: Ford Motor Co. (NYSE: F) Takes Pole Position Among Automakers Investor Reports October 9, 2010 The Dollar's Unavoidable Day of Reckoning is Here... October 2, 2010 Five Ways to Profit as Coffee Prices Soar September 18, 2010 Cashing in on Canada: Four Ways to Profit - Big - From the World's "Safest Economy" September 11, 2010 Three Ways to Brace for a Double-Dip Recession The Publisher's Series Why Gold Beats the Market Manipulators - Free Report Featured Columns from MoneyMorning.com Buy, Sell, or Hold October 10, 2010 Buy, Sell or Hold: Silver Wheaton Corp. (NYSE: SLW) Is Poised to Profit from the White Metal's Rally Hot Stocks September 28, 2010 Hot Stocks: Southwest Airlines Takes Aim at Bigger Rivals With $1.4 Billion Deal for AirTran Jon Markman October 10, 2010 Don't Miss Out on the Global Stock Rally Outlook 2010 July 20, 2010 Money Morning Mid-Year Forecast: Why China's Economy Will Exceed Expectations in the Second Half of 2010 Of Special Note: Keith Fitz-Gerald on: Gold: You may not be making as much as you think... Martin Hutchinson on: Can U.S. bank stocks double again in 2010? Shah Gilani on: How the government is creating a second subprime mortgage bubble

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