Pro Bono Publico

Some counties in California hard hit by the Housing Bust are considering using eminent domain to seize underwater houses and force the banks to renegotiate the loans. It’s an interesting idea, kind of a reverse Kelo v. City of New London. I’m concerned about the possibility of abuse, though; how would you ensure the power isn’t used to, say, enrich local developers? Still, at least it shows SOMEONE is thinking about this. Oh, and the idea pisses off FOX “News,” so it can’t be all bad.


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