[whitedog57]

This is incredible. 30% return for investors on eminent domain seizures of mortgages from investors. How Venezuela of out government. Meanwhile, our Robin Hood (Obama) steals from the poor and gives to his rich friends.

[556x45]

Isn’t this only a short step from Kelo vs New London? It seems so to me.

[foundedonpurpose]

Corrupt as h311! Their looking to start this in California, with the blessing of some of the local governments. Eminent domain for the betterment of the collective, of course.

[RatSlayer]

It wouldn’t surprise me at all to see eminent domain used inappropriately in this case and not used at all after Katrina where a case could be made that the appropriate thing to do was to seize all those destroyed neighborhoods under eminent domain, thus instantly paying off all the homeowners rather than making them have to wait for months or years for insurance payouts, then sell off the neighborhoods to developers to cover most of the costs. That way, the neighborhoods would have been quickly rebuilt instead of looking like Lebanon for years. The City would have taken a short term hit, but they would have started collecting property taxes on the new homes at a much earlier date and the new homes would almost certainly would be a lot more expensive. So the taxes would be much higher and the City would have quickly recovered it’s short term loss.

We are living in a total BizzaroWorld(tm) where the government always does the worst thing possible.