Emanuel for Property Rights

Let us now praise Chicago mayor Rahm Emanuel, who has joined the Federal Housing Finance Agency in arguing that eminent domain to seize mortgages could retard a housing market recovery.

The Windy City Democrat recently frowned on the eminent domain plan after a City Council meeting on the subject. Alderman Edward Burke had championed the idea of using government to seize certain kinds of mortgages, impose losses on investors, write down the principal, package the mortgages into a security and sell it to other investors.

Read The full Wall Street Journal article here

 

 

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s