Tuesday, September 27, 2005

the new domain to steal property

With Bush and his Republican cronies handing out the largesse to their friends, like Haliburton, for rebuilding New Orleans what do you think the chances are the poor will be let back in?

Given the recent USSC decision that gave cities (and probably by extension state and federal governments) permission to use the right of Emininent Domain to steal property away from poor home owners and sell it to wealthy corporations under the guise of civic improvement, what do you think the chance are that this won’t be used in New Oreleans, for example, and make the Republican cronies even wealthier?

Of course one reality is that most of that land was probably mortgaged, and given there’s nothing left and most of the people who lived there are now scattered and unemployed, I suspect much of it will be repossessed by the banks holding those mortgages. If that turns out to be the case ED won’t be needed. The banks will sell to the highest bidders and that alone will lock out the poor. Until next time.

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