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De Blasio ally open to city seizing foreclosed homes from banks (New York City)
The New York Post ^ | November 15, 2013 | Yoav Gonen

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 it’s innovative, it’s creative … nothing should be off the table.”(continued)

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; Crime/Corruption; Front Page News; Government; US: New York
KEYWORDS: crime; deblasio; democrats; foreclosures; mortgages; newyork; swine; theft
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1 posted on 11/15/2013 2:06:55 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet
The Ten Planks of Karl Marx's Communist Manifesto
(and How Statists Implement Them)

  1. Abolition of private property rights (via high property taxes, restrictive zoning laws, "fair housing" edicts, environmental and "wetlands" regulations, UN Agenda 21, etc.)

  2. Institution of a heavily graduated income tax (by calling it "taxing the rich")

  3. Abolition of all rights of inheritance (through a confiscatory estate tax on "the rich")

  4. Confiscation of the property of enemies of the state (through lawless application of asset forfeiture and eminent domain)

  5. Centralization of credit into the hands of the state (Federal Reserve, Federal Trade Commission, TARP, Fannie Mae, Freddie Mac, federal takeover of student loans, etc.)

  6. Centralization of the means of communication and transportation into the hands of the state (FCC, DOT, FEMA, NTSB, FAA, etc.).

  7. Consolidation and subjugation of all major industries to central government control (FDA, EPA, OSHA, ICC, HUD, NLRB, EEOC, DOE, TSA etc.)

  8. Mandatory labor union membership ("card check" to bypass employee consent, automatic withholding of union dues, forced unionization of health care workers, teachers, police, firefighters, etc.)

  9. Equitable redistribution of all wealth (TANF, SSI, EITC, SNAP, Community Reinvestment Act, etc.)

  10. Free public education (and food, housing, health care, cell phones, Internet access, etc.)

2 posted on 11/15/2013 2:10:25 PM PST by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: E. Pluribus Unum

Coming Soon: People’s Courts


3 posted on 11/15/2013 2:11:34 PM PST by Viennacon
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To: 2ndDivisionVet

This is pretty big news. The impact on the banks would depend on the amount of compensation paid.


4 posted on 11/15/2013 2:11:49 PM PST by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: 2ndDivisionVet

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.


5 posted on 11/15/2013 2:13:01 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: FReepers

Click The Pic To Donate

Support FR, Donate Monthly If You Can

6 posted on 11/15/2013 2:13:37 PM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: FreeAtlanta

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.


7 posted on 11/15/2013 2:15:47 PM PST by Mr. Lucky
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To: firebrand; rmlew

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!


8 posted on 11/15/2013 2:15:48 PM PST by Black Agnes
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To: FreeAtlanta

The bank gets paid Fair Market Value. Or do these people think that Eminent Domain means yo take the property for nothing.


9 posted on 11/15/2013 2:15:52 PM PST by massgopguy (I owe everything to George Bailey)
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To: FreeAtlanta

That makes blatant theft of private property okay?!


10 posted on 11/15/2013 2:16:02 PM PST by 2ndDivisionVet ("Of the 4 wars in my lifetime none came about because the US was too strong." Reagan)
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To: 2ndDivisionVet
Redistribution!!!!! NY has no idea whats coming. His so called wife which isn't, is in on every meeting, is in charge of selecting everyone in this administration. She is a proud lesbian who gave birth to his children but still carries her maiden name Mccray. NY voted for this imbecile and they now have a complete stranger who they didnt vote for running the show.
11 posted on 11/15/2013 2:16:36 PM PST by ronnie raygun
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To: FreeAtlanta

The De Blasio ally is anti-bank. Just like you.


12 posted on 11/15/2013 2:17:48 PM PST by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: All

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.


13 posted on 11/15/2013 2:19:22 PM PST by willywill
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To: E. Pluribus Unum
We now know that the banks colluded with the government and the Fed to do QE and QE2 in order to bail out the banks at the expense of the taxpayers.

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.

14 posted on 11/15/2013 2:29:23 PM PST by who_would_fardels_bear
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To: 2ndDivisionVet

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.


15 posted on 11/15/2013 3:08:38 PM PST by bill1952 (Choice is an illusion created between those with power - and those without)
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To: bill1952
Of course the City will actually have to PAY...

Not if the city just takes the property at NO COST and NO PAYMENT to the bank.

16 posted on 11/15/2013 3:17:25 PM PST by newfreep (Breitbart sent me...)
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To: trisham

I suppose there’s a difference bw being “anti-bank” and “anti crony who demands the privatization of profits while socializing the losses bank.”


17 posted on 11/15/2013 3:22:33 PM PST by Tea Party Terrorist (Why work for a living when you can vote for a living?)
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To: newfreep

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.


18 posted on 11/15/2013 3:23:55 PM PST by Tea Party Terrorist (Why work for a living when you can vote for a living?)
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To: trisham

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?


19 posted on 11/15/2013 3:29:26 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: FreeAtlanta

?


20 posted on 11/15/2013 3:49:28 PM PST by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: 2ndDivisionVet

This idea is bound to be proven a disaster


21 posted on 11/15/2013 3:55:35 PM PST by lowbridge
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To: lowbridge

these people aren’t too smart about cause and effect are they?


22 posted on 11/15/2013 3:56:44 PM PST by GeronL (Extra Large Cheesy Over-Stuffed Hobbit)
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To: trisham

Leviticus 25:10
Consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you; each of you is to return to your family property and to your own clan.


23 posted on 11/15/2013 3:57:28 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: FreeAtlanta

You shall not covet your neighbor’s house;
you shall not covet your neighbor’s wife,
or his manservant, or his maidservant,
or his ox, or his ass,
or anything that is your neighbor’s.


24 posted on 11/15/2013 4:00:55 PM PST by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: trisham

It has nothing to do with coveting. Our system is broken (via, Cloward and Piven stategy). We need a reset and some firm laws in place to keep congress and the president from getting us back in this horrible 17 trillion dollar debt.


25 posted on 11/15/2013 4:03:07 PM PST by FreeAtlanta (Liberty or Big Government - you can't have both.)
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To: 2ndDivisionVet

They still have to pay those banks market rates.


26 posted on 11/15/2013 4:03:35 PM PST by CodeToad (When ignorance rules a person's decision they are resorting to superstition.)
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To: newfreep

Can’t be done. Even eminent domain is a legal action and process that has to go by the laws that govern such seizure.
That cannot be done other than fair market value and even that can be successfully challenged.
It will cost billions


27 posted on 11/15/2013 4:04:01 PM PST by bill1952 (Choice is an illusion created between those with power - and those without)
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To: 2ndDivisionVet
Full-on, no-holds-barred Communism.

I actually thought it would start in Kalifornistan, but New York doesn't surprise, either.

28 posted on 11/15/2013 4:06:03 PM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
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To: bill1952

Sorry.....but communists don’t need no steenking law!

obamatollah ignores and rejects the Constitution and bankruptsy laws (see GM & Chrysler Secured Bondholders).

Eminent domain is child’s play...


29 posted on 11/15/2013 4:09:33 PM PST by newfreep (Breitbart sent me...)
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To: Lazamataz
Full-on, no-holds-barred Communism.

I'll give them NYC. It's the abortion capital of the world.

30 posted on 11/15/2013 4:11:45 PM PST by St_Thomas_Aquinas ( Isaiah 22:22, Matthew 16:19, Revelation 3:7)
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To: 2ndDivisionVet

If they want to do that, start with abandoned buildings, renovate them, then sell them to low-income people for a fee that is affordable but noticeable. Watch how the quality of housing improves.


31 posted on 11/15/2013 4:13:24 PM PST by TBP (Obama lies, Granny dies.)
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To: Zhang Fei
What part of seize says there will be payment?
32 posted on 11/15/2013 4:14:41 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: bill1952

Yes, and Obamacare was unconstitutional, too. How’d that work out?

These days I’m surprised that the laws of physics still work.


33 posted on 11/15/2013 4:15:08 PM PST by PLMerite (Shut the Beyotch Down! Burn, baby, burn!)
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To: Lazamataz

Bankers are known for makingdeals

Wonder if they let contracts?


34 posted on 11/15/2013 4:15:42 PM PST by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Jane Long
What part of seize says there will be payment?

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.

Without payment to the bank, no subsidy is necessary - it would be a straight transfer from bank to mortgager. Besides, eminent domain *always* requires a market price payment - the only issue is how the market price is determined. What is in contention with most eminent domain cases is that holdouts think the property is undervalued at the current market price. In many and perhaps the majority of cases, the holdouts are right.

35 posted on 11/15/2013 4:30:17 PM PST by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: 2ndDivisionVet

The city has to borrow.

Piss of the banks and the funds will dry up


36 posted on 11/15/2013 4:31:30 PM PST by bert ((K.E. N.P. N.C. +12 ..... Travon... Felony assault and battery hate crime)
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To: Zhang Fei
My mistake -- that IS a bank bailout, then...compliments of the taxpayers.

The last one out of NYC, turn the lights out.

37 posted on 11/15/2013 4:33:52 PM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: FreeAtlanta
Personally, I am ready for an international year of Jubilee.

I know what you mean, but consider this: If you have any savings, they will melt away with the debt in a Jubilee. One man's debt (liability) is another man's (or banking intermeidary's) asset.

There would be tremendous deflation, and the effects (and bankruptcies) would be unevenly distributed.

38 posted on 11/15/2013 4:39:07 PM PST by Pearls Before Swine
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To: ronnie raygun; All
Redistribution!!!!! NY has no idea whats coming.

Oh I think they do... I don't follow popular culture like many do, but in passing I noticed, haven't a couple of hip-hop moguls and or Hollyweird types put their places in NY city up for sale the last couple of weeks? Hmmmm......

39 posted on 11/15/2013 4:42:10 PM PST by taildragger (The E-GOP won't know what hit them, The Party of Reagan is almost here, hang tight folks....)
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To: Lazamataz

It did start in California - the City of Richmond, CA has a nice Green Party mayor and she proposed the idea some time ago.


40 posted on 11/15/2013 4:42:26 PM PST by 45Auto (Big holes are (almost) always better.)
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To: E. Pluribus Unum

Here we go. The commies have completely taken over NY. Oh, wait a moment. That happened long ago. The only difference now is that don’t have to pretend to be something other than commies anymore.


41 posted on 11/15/2013 4:45:59 PM PST by 3Fingas (Sons and Daughters for Freedom and Rededicaton to the Principles of the U.S. Constitution...)
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To: 2ndDivisionVet

Why seize houses from the banks, seize the banks.


42 posted on 11/15/2013 6:16:21 PM PST by count-your-change (you don't have to be brilliant, not being stupid is enough)
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To: 2ndDivisionVet

Escape from NewYork, from a fiction book to reality.


43 posted on 11/15/2013 7:22:35 PM PST by Nuc 1.1 (Nuc 1 Liberals aren't Patriots. Remember 1789!)
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To: 2ndDivisionVet

Moscow on the Hudson.


44 posted on 11/15/2013 7:55:44 PM PST by headstamp 2 (What would Scooby do?)
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To: Black Agnes

Most co-op boards I know of have rules that restrict sales to prospects at risk of bankruptcy. I suspect that this will not be a problem in high end co-ops and the few “shares” at risk will be bought by the shareholders as a whole rather than risk values of all apartments/shares.


45 posted on 11/15/2013 11:12:05 PM PST by rmlew ("Mosques are our barracks, minarets our bayonets, domes our helmets, the believers our soldiers.")
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To: Viennacon

Parts of the Bay Area in California are already doing such.


46 posted on 11/16/2013 6:33:27 AM PST by ridesthemiles
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To: massgopguy

The bank gets paid Fair Market Value. Or do these people think that Eminent Domain means yo take the property for nothing.

Exactly. Current fair market for the house, not the outstanding value of the loan.

They want to do this to pre-foreclosure, not to post-foreclosure. They want to do it to force the banks to forgive the debt with no tax impact to the mortgagee.

Most banks have told municipalities if they do this, they will not be able to underwrite future mortgages in the city.


47 posted on 11/16/2013 8:12:53 AM PST by magellan
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To: massgopguy

yep. Already been done YEARS ago in Rochester NY (upstate) under the notorious Mayor William Johnson (affirmative action mayor) Now we have Lovely Warren who will probably make mayor “Grady” look conservative.

http://www.cityofrochester.gov/article.aspx?id=8589936012


48 posted on 11/16/2013 8:53:45 AM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
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To: newfreep

exactly. It’s been happening since the 90’s in the City of Rochester. They have a point system where even if something is not your fault, let’s say random residents start selling crack on or near your property, the City can literally take your property away with zero compensation.


49 posted on 11/16/2013 8:55:45 AM PST by AbolishCSEU (Percentage of Income in CS is inversely proportionate to Mother's parenting of children)
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To: rmlew

The high end ones especially do. I’m thinking more of the middle/upper middle class buildings. Where between divorce and the downsizing the finance industry/pharma/etc have undergone over the past 5 or 6 years there is more of a risk. But especially the non co-op buildings. Can you imagine buying an apartment in a high end ‘public access’ building and finding out your new neighbors were section 8 types? I guess some DeBlasio voters will be figuring that particular scenario into their future.


50 posted on 11/16/2013 12:56:24 PM PST by Black Agnes
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