Posted on 06/15/2012 7:58:19 AM PDT by Fred
A group of businessmen with ties to Warren Buffett, George Soros, President Obama, and socialist senator Bernie Sanders are pushing a plan to use the government's power of eminent domain to seize billions of dollars worth of underwater mortgages from banks and bondholders.
Word of the plan surfaced earlier this month in a Reuters dispatch that reported the eminent domain strategy but not the political ties of the businessmen involved in the plan nor their links to two of America's most prominent and outspoken billionaires. The Reuters article said a firm called Mortgage Resolution Partners, chaired by Steven Gluckstern, a former owner of the New York Islanders hockey team, was working with politicians in Nevada, Florida, and California's San Bernadino County to advance the plan.
(Excerpt) Read more at futureofcapitalism.com ...
free houses, vote form Odungo
And just what would they do with the houses? Tear them down? Build mini-parks? Fill them with Section 8 criminals? This could be the ultimate 'payback'... how dare they.
Yup, free housing to those 800,000 Criminal invaders Zero is gonna give amnesty to.
I was going to say that they can’t use eminent domain that way, then I remembered the last SCOTUS decision on the subject. It basically allows the government to force sale if only to allow a higher tax paying entity to move in.
So, never mind...
Just tip off the ‘Occutards’ when it happens and tell them to move right in.
Let the moonbats fight to the death over them.
Yep, just keep choking off the economy and soon 3/4 of the population will have their homes taken away and given back to them if they “behave”. Makes me think of the USSR.
Home ownership will be a thing of the past...”a government big enough to give you everything is big enough to take it away”
I’m so stupid for not stealing hundreds of thousands of dollars from other tax payers and future generations.
Mortgages are assets to lender/servicer, NOT homeowners. They’d be condemning assets of banks, not assets of homeowners.
“Condemning” mortgages will have no effect on the home. Mortgages in a general sense are contracts that can be bought and sold - not amended w/out all parties in agreement.
If those dudes want to hold those mortgages, I’m pretty damn sure they could just buy them. I can’t imagine how eminent domain would even be in the discussion. The only way I can connect the two is to imagine that by “condemning” the mortgage somehow, the price of said contracts could be less but even that is unclear.
Something else is going on here and the article doesn’t help us see what it is. But w/ Soros, Buffet, and 0dumbo, it can’t be good for the nation.
Excellent summary, to straighten out some of the misconceptions earlier in the thread. They must figure they can pick up the mortgages at MUCH lower prices with the state coercion. The banks are likely to fight back, unless in on the scam.
Exactly.
This was the gameplan ALL along.....
You want them living next door to you? Better plan: We collect money - pass laws - go non-profit and MOVE THEM in next door to Buffett and Soros and THEIR friends and family.
If it not a BAD thing - and according to liberal elites it's a GOOD thing - they won't object. Buffett's rich frinds will love the opportunity...
More freebees to the 50%+ who don’t pay taxes?
We need to REALLY help the downtrodden - let’s move them into Buffett and Soros’ neighborhoods. Might need to put 50 to 60 of them in one mansion but, hey, it would be worth it. Taxpayers will save and who knows - maybe those upper class elite values will ‘rub off’ on them. Isn’t that the theory?
Warren Buffett. That grandfatherly image sure fooled a lot of people, but his true colors have come out.
Scenes from Dr. Zhivago(sp) come to mind.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.