Congress' bailout opens doors to eminent domain seizures

WorldNetDaily.com ^ | July 26, 2008 | Bob Unruh

[Man50D]

The congressional plan to bail out the U.S. housing and mortgage industries, which could be approved by Congress and signed by the president as early as this weekend, actually endangers Americans' housing, according to the director of the Center for Entrepreneurship at the Competitive Enterprise Institute.

"Of all the unintended consequences of the housing bill that passed the House – of which there will likely be many – one of the most ironic and far-reaching may be this: that whatever security marginal homeowners have from foreclosures, their homes will be far less safe from being taken by a bureaucrat through eminent domain," John Berlau wrote on the organization's website.

According to the Wall Street Journal the White House says the bill needs to be enacted soon so its new authorities will start taking effect.

The sweeping package, the report said, "is the government's most aggressive response to rising foreclosures and fragile credit markets. It creates a new regulator for ailing mortgage giants Fannie Mae and Freddie Mac and establishes a $300 billion program to expand the Federal Housing Administration's ability to guarantee mortgages."

However, some of the details included in the hundreds of pages of the bill are likely to surprise – and concern – Americans. For example, there's a requirement for a new fingerprint registry for those who are associated with the mortgage industry, raising privacy concerns for many.

[jsh3180]

I read somewhere yesterday that the housing bailout bill also has in the fine print a clause that mandates ALL credit card purchases transacted in the US be reported to a new IRS database, failure to do so, blah, blah,blah, under penalty of law.
Can’t remeber where I saw it, maybe someone else has seen the same thing?

[jsh3180]

Oooops, sorry, it’s in one of the links in your post. Yes it’s true.

[G.Mason]

" ... "This new language in the House bill would give property-grabbing bureaucrats an easy way around the supposed prohibition on using eminent domain," Berlau said.
"All they would have to do is take property for any reason that Kelo allows, and then come up with another project for the specific use of that property ... "

So ... the dumbing down of Americans continues to enable the politicians to keep the "train of socialism" speeding toward the "State Controls Everything", and into the land of "The U.S. Constitution Be Damned".

Yes sir! Everything's free in America ... except Her people.

[driftdiver]

If so I’ll sign up for a class action. This information shouldnt be available to the government without a warrant.

[driftdiver]

I don’t buy the emminent domain connection though. If the govt wants it they can already take it. Its a travesty but our lawmakers in black robes thought it best. A POX on them all.

[Vaduz]

emminent domain -congress can over ride the court but it will not do it = free land grab to start in 4,3,2,

[Ronaldus Magnus Reagan]

The socialist noose is slowly closing around your neck. Recently, Congress passed much stricter penalties on renouncing your US citizenship. They will now impose a wealth tax on everything you own. In Obama’s world, the govt. can take your house, tax the crap out of you, and make it very painful for you to leave.

[SteamShovel]

For example, there's a requirement for a new fingerprint registry for those who are associated with the mortgage industry

And yet, Billy Clinton and even Obama can become Commander-In-Chief with TOP SECURITY CLEARANCE without undergoing background checks and facing possible denial of clearance....