Good luck convincing a bank to give you a loan to buy a home in Richmond in the future.
Corporate America deserves this. They do legal research to lobby and sue in court to have laws interpret in their favor as well as invent financial scams that skirt legal boundaries. That is call astute business practices. When workers use lobbies and lawsuits to do the same it is call Communism??!!! Corporate America started the misuse of eminent domain, now their nemesis anti capitalist Communist are using it in the same way. Meantime Main Street Americans get screwed by both, since both (corporate America and big gov leftist) are enemies of the middle class/Main Street America, let them both kill each other. That way corporate America will get hit in the wallet and leftist gov will embark on the road to unsustainable business models that lead them all to Detroit.
“Communism is coming”? That is such total BS.
Seriously, have you not seen the abuses of the banks? Their directors should have been put in jail. Instead they got bonuses.
No conservative could be in support of what the banks did in the run up to the crash. There was nothing conservative about that behavior and their practices.
And now we have the backlash. That’s what happens when conservative guidelines are not followed.
The banks got bailed out and the did it by lobbying. Now the ordinary citizens that paid the cost of the bailout are doing some lobbying to get relief also.
Are you saying the rules only apply to one side and not the other? If you said no bailout, no favors for anyone then I might be able to side with you.
The greatest criminals are ones who not only take money and property from their victims, but leave their targets feeling good about themselves. How sneaky and conniving must one be to in the process of stealing tangible goods to also take the victims dignity?
There’s something to be admired in such a swindler. But the admiration is directly proportional to the utter contempt one must have for the “victim”, whom even after being told of the scam continues to praise the crook who did it.
How stupid must one be? It reminds one of that girl in High School who strutted around with her nose in the air because she was allowed to hang out with the football team. Naturally the team was only using her for a couple of things, but that never bugged her.
This incident is annoying in High School, but it’s dangerous in the world of politics.
Enter Richmond and it’s radical socialist government. Faced with a number of house owners “underwater” it has sent an offer to mortgage companies to buy off said houses. If the banks refuse, the city said it may have to use eminent domain to seize the properties in question.
Although the Americans call it “eminent domain”, the Venezuelans would call it “nationalization” and the European republics of the 30’s would call it “Fascism”.
It also begs the question of true ownership. When a pipe busts in the house, who do you call: The bank or a plumber? When a wire shorts out in the house, who do you call: The bank or an electrician? When the roof caves in the house, who do you call: the bank or a roofer?
The strong arm of the government shows up and seizes a home, who are they taking it from: the bank or you?
The only upshot is that the bank can no longer repossess anything, because you no longer own it.
The downshot is that homeowners now cheering this idea on are in for a very rude awaking as slowly discover that they no longer own their domiciles. Instead they’re just caretakers of government property. Their beloved homes now subject to the mercurial winds of politics. The man from the government office might not like the remodeling plans for the kitchen or the type of paint for the bedroom, what the temperature it should be or how much water should be used. Maybe the environmentalists will get together and decide that the place needs solar panels. Maybe the Civil Rights groups will demand that some of the homes in the neighborhood be “diversified”. Or maybe the relative of a large campaign donor will simply need a place to live.
There’s no guarantee the powers that be will offer them a chance to get their property back either. Or give the people living in these places any type of a “fair” deal. When one couples this other things going on such as the government using its authority to punish groups opposed to gay marriage, the frightening possibilities become endless.
This is how things work in a socialist republic. It’s not a new idea. The seizing of private property was advocated by Karl Marx in “The Communist Manifesto” who’s goal was the destruction of the middle class. One of the greatest ways to harm the middle class is to ban one of its most iconic symbols: home ownership.
“A man’s house is his castle”? Not anymore I’m afraid.
I’m sure Marx would be tickled if he could come to 2013 and see the bourgeoisie that he hated so much the most zealous for his cause. The very victims of this scam are its biggest supporters. Makes you wonder where the smug sense of intellectual superior that radiates from such people comes from.
It would be one thing if these idiots wanted to sell themselves into this kind of slavery. What burns is that as long as 51% of voters are composed of these people, we’re all in raw deal.
You “conservatives” who think this type of crap is a good idea can kiss my ass!
He who robs Peter to pay Paul can count on the continuing support of Paul
Fine with me if that is what the people of Richmond, CA vote to do in their own town. They can tax themselves to pay for the scheme. Local control and decision making is fine with me ... even if it is stupid.
They had better not come asking for a Federal bailout of any kind whatsoever.
Nah this is called throwing food to the gators who are coming to eat you. Richmond is more of a dump than Detroit or Chicago ever thought of being. All those under water houses are on the west side of highway 80. They are in parts of town that are nearly uninhabitable due to gang violence and general disrespect for human life.
The city council hope this will keep the rioting masses from crossing the highway and burning down the part of town that actually contributes to the tax base
It’ll never pass constitutional muster. Not all mortgages will be covered and that [possibly] would be violation of 14th Amendment Equal Protection rights.