Get free daily email updates

Syndicate this site - RSS

Recent Posts

Blogger Menu

Click here to blog

FlashReport Weblog on California Politics

- Or -
Search blog archive

Tab Berg

Arena Subsidy: Take the online survey

Although professional polling has clearly shown voters want to vote – especially when politicians want to spend hundreds of millions of dollars on subsidies and economic stimulus.

CLICK HERE to complete the short survey and share your view!

http://www.surveymonkey.com/s/62VY526… Read More

Congressman John Campbell

California’s Eminent Domain Heist

It will not surprise anyone reading this that serious problems persist in the housing sector. Many solutions have been proposed, including several pieces of legislation I have introduced in Congress, to help homeowners, completely reform our housing finance system and fix the housing crisis. Most of the proposals out there are focused on struggling homeowners trying to make the next payment and are about the greater good of the country. However, you may or may not be surprised that a couple of California cities have decided to not waste a good crisis, to paraphrase the now infamous axiom, realizing there is a lot of cash to be made off underwater homeowners.

In an astonishingly expansive and untenable interpretation of eminent domain authority, several local governments, notably San Bernardino, have proposed plans to override private property rights through a scheme that is specifically designed to make money for over-leveraged cities. This scheme is being sold as assistance for hurting homeowners, but it is purely a ploy to use federal tax dollars to seize distressed home loans and force unconventional, yet profitable loan modifications.

However, not only will… Read More