Skip to comments.De Blasio ally open to city seizing foreclosed homes from banks (New York City)
Posted on 11/15/2013 2:06:55 PM PST by 2ndDivisionVet
The most left-leaning candidate for City Council speaker says she would consider using eminent domain to seize homes that are in foreclosure from banks a move that could leave taxpayers subsidizing the mortgages.
Melissa Mark-Viverito (D-Manhattan/Bronx), a close ally of Mayor-elect Bill de Blasio, said she was open to the proposal when asked about it during a forum in Queens Thursday night featuring five main contenders in the race for speaker.
The idea of using eminent domain in a reverse way
as a way of seizing those properties from the bank as a way of making those homes affordable for people that want to stay in their communities I think is something we should look at, said Mark-Viverito, a top contender for the powerful role. I think its innovative, its creative
nothing should be off the table.(continued)
(Excerpt) Read more at nypost.com ...
Coming Soon: People’s Courts
This is pretty big news. The impact on the banks would depend on the amount of compensation paid.
I wish I could be sympathetic, but most of our banks are basically our government and operated by cronies.
what a fine pickle we got ourselves in.
This is really just another bailout of banks. The banks will love getting paid full price by the city without the bother of having to maintain, hold and market foreclosed properties.
What on earth will co-op boards do when they discover that section 8 renters are moving in to the formerly bank owned units?
Pop the popcorn!
The bank gets paid Fair Market Value. Or do these people think that Eminent Domain means yo take the property for nothing.
That makes blatant theft of private property okay?!
The De Blasio ally is anti-bank. Just like you.
you’ll be paying higher taxes and possibly higher mortgage rates in order to pay for other people’s houses.
goes right along with you paying higher insurance rates to pay for other people’s health insurance.
and all you suckers spent all that time in college studying to earn degrees and get jobs that paid good.
all this time you coulda just waiting for the country to go Marxist.
We now know that the insurance companies and drug companies colluded with the Obama administration to try and make Obamacare workable for them at the expense of the taxpayers.
If DeBlasio goes after the banks the only real downside is that the banks will find a way to pass whatever losses they incur onto the taxpayers once again.
Communism was never really tried because it is a fairy tale that can't exist in a real world. Communism was just a facade behind which the monopolistic capitalistic enterprise we called the Soviet government hid.
'Free Market' or 'Welfare State Capitalism' is the term we use to describe the oligarchic enterprise that currently runs the U.S.
We are hosed regardless of whether the politicians seem to be winning or corporate America seems to be winning.
Regardless, the only ones that are always losing are those that earn taxable income.
I actually love this idea.
I think these Marxist democrats(redundant) should do this and do it as much as possible.
Of course the City will actually have to PAY for all of this and since NYC can’t print money, why then taxes will have to skyrocket.
One request would be to pass a law requiring all NYC denizens to remain or pay a bond to cover.
Not if the city just takes the property at NO COST and NO PAYMENT to the bank.
I suppose there’s a difference bw being “anti-bank” and “anti crony who demands the privatization of profits while socializing the losses bank.”
Taking property by eminent domain requires a fair payment to the owner, but I guess no one really cares about laws anymore so I guess you’re right.
I don’t consider myself anti-bank... well, not until many of them climbed onto the crony bandwagon.
Personally, I am ready for an international year of Jubilee. I think it might be the only way to reset the ridiculous debts that have been accrued.
It looks like God knew something. Is he anti-bank?
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