Massachusetts foreclosure ruling

A top Massachusetts court has criticized banks for their "carelessness" during the securitization of mortgages in the state. But interests supporting the banks have issued their own messages -- trying to minimize the court's decision.

The state's highest court affirmed the fundamental and long-established idea that a bank must own the mortgage it's foreclosing on before it forecloses. The ruling pertained to Wells Fargo and US Bancorp, but investors are hammering all bank financial stocks in reaction.