Local communities vs vampire squids– will rule of law win?

From Matt Taibbi’s 20 July blog post in Rolling Stone, with reference to Rep Brad Miller’s July 11 article in American Banker. Miller’s article provides more heft, Taibbi adds poetry and context.

The fundamental idea is for local communities to use eminent domain to seize underwater or foreclosed properties at current market value, and then sell them back to the residents at that value.

Wall Street’s power in Washington may be as useless in defeating a proposal in San Bernardino County as strategic nuclear weapons are in fighting an insurgency. No wonder Wall Street is panicked.

concludes Miller.

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Posted on July 26, 2012, in US. Bookmark the permalink. Leave a comment.

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