Obama Donors With Soros Ties Consider Eminent Domain Power Grab in Calif.
- Posted on July 17, 2012 at 2:23pm by
Becket Adams
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San Bernardino, Calif., is bankrupt, under criminal investigation, and now county officials are considering a plan to use eminent domain powers to “seize and refinance” underwater mortgages, according to the Washington Free Beacon’s Andrew Stiles.
Put forward by investors with ties to the Democratic Party, the proposal has been met with opposition by critics who claim it is both a violation of
property rights and “an exercise in political cronyism.”
“This is a group of folks who want to come in and use the government to help acquire properties for them and provide an impressive return on their investment,” Steven Greenhut, a senior fellow at the Pacific Research Institute, told the WFB.
What, exactly, is involved in the plan? Stiles explains:
The county, along with the cities of Ontario and Fontana, has created a joint authority to consider a plan to restructure mortgages for certain borrowers who are “underwater,” meaning they owe more than their homes are worth. Officials estimate that as many as 100,000 mortgages in San Bernardino County are underwater.
The new authority would apply eminent domain power, which allows governments to forcibly acquire private property for public benefit. However, rather than seizing the physical properties in this case, the authority effectively would be purchasing the mortgages owed by the property owners, with the aim of restructuring them and selling them to investors who could then turn a profit by flipping the homes.
A San Francisco firm called Mortgage Resolution Partners (MRP), which is closely tied to the Democratic Party, is one of the major parties involved in the plan.
“The firm’s chairman, Steven Gluckstern, has personally donated more than $160,000 to Democratic candidates and committees since 2000, including $7,300 to President Obama,” Stiles reports. “Gluckstern also bundled between $200,000 and $500,000 in donations for the president in 2008.”
“Gluckstern previously worked for Obama-ally Warren Buffett as general manager of the billionaire investor’s Berkshire Hathaway Insurance Group,” he adds.
Of course, as promised, there are also ties to the one and only billionaire, philanthropist currency speculator George Soros.
“BJ Greenspan, the firm’s chief of staff, joined MRP after a stint at the Institute of New Economic Thinking, an organization founded and funded by billionaire financier George Soros [emphasis added],” writes Stiles.
There’s more:
Former California state treasurer Phil Angelides, who in 2009 was tapped by then-House Majority Leader Nancy Pelosi (D., Calif.) to lead a federal investigation into the causes of the financial crisis, served as executive chairman at MRP until earlier this year.
Angelides stepped down from his position in January after Reuters reported on his role and revealed a letter he sent to prospective investors, in which Angelides detailed the MRP strategy to use “legal and political leverage” to acquire underwater mortgages and resell them at a profit of up to 20 percent. Angelides referred to the firm’s political connections as its “secret formula” in the letter.
Officials argue that the controversial plan will save homes in danger of foreclosure and that it will help raise tax revenues. Still, critics attack the constitutionality of the plan.
“This has never been tried before,” said Dana Berliner, litigation director for the Institute for Justice. “Most states would prohibit this kind of taking under state constitutional law, including California, where they’ve never allowed eminent domain to benefit private parties.”
The San Bernardino plan is a “blatant attempt by one group of investors to steal money from another group of investors,” Berliner told the WFB.
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Comments (77)
Individualism
Posted on July 17, 2012 at 4:50pmMaybe the protocols were true after all about those folks.
Report Post »rickc34
Posted on July 17, 2012 at 5:08pmAnd it only get worse from here, Come quickly Lord Jesus and save our children from these evil wicked men and women. Since Obama took office our children’s future has become a nightmare .
Report Post »Constantine Ivanov
Posted on July 17, 2012 at 6:32pm@RICKC34
“Come quickly Lord Jesus and save our children from these evil wicked men and women,” you said.
Dozens of millions of God-loving, God-fearing innocent people begged Lord Jesus to come and save them from Bolsheviks. Lord Jesus didn’t come and those dozens of Millions of God-loving, God-fearing innocent people were all murdered by Bolsheviks.
Millions of God-loving, God-fearing innocent people begged Lord Jesus to come and save them from Nazis. Lord Jesus didn’t come and those dozens of Millions of God-loving, God-fearing innocent people were all murdered by Nazis.
It seems that “coming and saving” is not in the To-Do-List of Lord Jesus.
Report Post »Don’t waste your time asking.
Do something by yourself.
spirited
Posted on July 17, 2012 at 8:55pmAny suggestions?
Report Post »1947
Posted on July 17, 2012 at 11:32pmExecutive Order 10289–Providing for the performance of certain functions of the President by the Secretary of the Treasury
Report Post »1947
Posted on July 17, 2012 at 11:34pmExecutive Order 11110 – Amendment of Executive Order No. 10289 as Amended, Relating to the Performance of Certain Functions Affecting the Department of the Treasury
Report Post »1947
Posted on July 17, 2012 at 11:36pmExecutive Order 12608 — Elimination of Unnecessary Executive Orders and Technical Amendments to Others
September 9, 1987
By the authority vested in me as President by the Constitution and laws of the United States of America, and in order to eliminate certain Executive Orders that are no longer necessary, and to make technical amendments in others to correct outdated agency references or obsolete legal citations, it is hereby ordered as follows:
Section 1. The following Executive Orders are revoked:
8744 Authorizing certain employees of the Government to acquire a classified civil service status
10880 Permitting certain employees to be given career or career conditional appointments
11377 Providing for Tariff Commission reports regarding the estimated consumption of certain brooms
11911 Providing for preservation of endangered species
12034 Providing for the appointment of former ACTION cooperative volunteers to the civilian career service
12295 Extending nuclear cooperation with EURATOM
12426 Establishing the President‘s Advisory Committee on Women’s Business Ownership
Notwithstanding the revocation of Executive Orders Nos. 8744, 10880, and 12034, benefits already conferred under these Executive Orders before revocation shall not be affected.
Report Post »1947
Posted on July 18, 2012 at 12:32amActually..both Obama and Romney have ties with “spooky dude” Remember..George Soros is the frontman for the Rothschild/Rockefeller 13 family Federal Reserve. The Rothschild banking families have been spread out into many countries..like Germany..England, Italy, France, Austria and Switzerland..They started the War of 1812 to get their bank here..It is said that they planned our Civil War in England and financed both sides..Our Presidents who have tried to get around them or kick them out have been assassinated..and one’s brother..Bobby Kennedy..They are the boss of the Banks..Sharia Compliant banks received 700 billion in TARP..meaning the banks are set up with funds funding organizations funding terrorism..making terrorisits mercenaries..think our 11 yr ago attack which started the wars for the purpose of the NWO/Communism.. Joseph Smith prophesied about the end of days which obviously came from the bible..but also had the Banks failing and because of it..great tribulation..I read about the tribulation in the bible..nothing about the banks..but Joseph did..with a little help from the Free Masons..The Secret Societies are NWO/Communist organizations..research it yourselves.
Report Post »http://www.youtube.com/watch?v=rJy4gSG8Q3w
weldon1
Posted on July 18, 2012 at 10:45amProperty of Japanese Americans interned during WWII was snatched up by California politicans.
Report Post »The property rights of the State come first in Socialism. Scary, HuH!
sirocco78
Posted on July 17, 2012 at 4:46pmDon’t think for a second this is being considered at the national level.
Report Post »cessna152
Posted on July 17, 2012 at 4:58pmMy prediction… in the near future “Fanny and Freddy”/Government will create a crisis and “call” for immediate payment on home loans. When they can’t be paid in full, guess who now owns your property? We are one step away from being under Communism. Do you ever really own your property? After you pay off your loan, you still have taxes and other obligations to keep it. Fighting for freedom and keep what is ours….
Report Post »Crazyotto
Posted on July 17, 2012 at 7:28pmI would say this is a beta test and it won’t be long.. the next step in the downward spiral is to eliminate the private property rights of the middle-lower classes..The end of the Republic is near
Report Post »Endstatism
Posted on July 17, 2012 at 4:37pmTalk about picking winners and losers. This is clearly a effort at crony “capitalism”. The courts could uphold this seizure, after all California is in the 9th Circus court district.
Report Post »zoro51
Posted on July 17, 2012 at 4:31pmstop this MNARXIST take over now weed out n remove all LEFTIES… CA is not a land of MARXIST zomnies but the land of the free n the home of the brave.. FIRE IMPEACH REMOVE RECALL all SOICALISTS MARXIST LEFTISTS end the RAPING OF AMERICA by the LEFT.. throw them under the bus THIS VERY HOUr restore ca
Report Post »leary1
Posted on July 17, 2012 at 4:30pmthe perfect picture of CORRUPTION…OBAMA AND SOROS
Report Post »TRILO
Posted on July 17, 2012 at 4:08pmI am sure that the SCOTUS will find this to be Constitutional just like they increased the eminent domain powers of the government through the Kelo decision.
Report Post »Elena2010
Posted on July 17, 2012 at 9:36pmMy thoughts exactly. Under water is not the same as in arrears. Those wanting to take another’s property better have their foreclosure docs in a row…talk abt thieves! Where is Obama on that one?
Report Post »Nanaswords
Posted on July 17, 2012 at 4:04pmSame Ol’ carpetbaggers…by names always interchanged…always connected…the self-appointed elite progressives…out to take advantage of a crisis that they brought about !!! Everything that is being done in the dark…the Light will bring it into front and focus position !!! Light has/will Always take over the dark!!! Just keep up as the Firm Stand with No Fear… they are scrambling back to their holes faster than they come out for their greedy gropping!!! Years of rotten eats…uncovered in just weeks of Light !!! The finish for the Dump is coming in November !!! Each uncovered and failure for sure…one at a time !!!
Report Post »JRook
Posted on July 17, 2012 at 4:17pmBeckett I’m assuming your not one of the staff that claims to be of high Christian character. Because if so it is people just like you that drive people who know you away from the Lord.
Report Post »AmericanPatriot
Posted on July 17, 2012 at 3:48pmSo, let me see if I understand this. Freddie and Fanny helped get people into loans and houses they couldn’t afford at the height of the housing boom when prices were at their highest. Now that most of those moetgages are “underwater,” they just want to go in and, using our tax dollars, but up all those mortgages and sell them for even higher dollars? Wow, that really helped poorer people realize the American Dream, didn’t it? Look how much good that did for the poor and disenfranchised who had trouble getting their own homes! What a diabolical plan!!! It’s positively Machiavellian!
After reading articles like this, I often think we are in the end of days for this country. It‘s taken them a century to get to this point and I fear we’ve passed the point of no return. I truly hope and pray we can turn the tide on all of this. Scary times, folks! God help and bless us all!!!!!
Report Post »AmericanPatriot
Posted on July 17, 2012 at 3:58pmSorry for the typos. Guess I should have proofread this before I hit the “Submit” button — grin!
Report Post »forthepeople
Posted on July 17, 2012 at 4:50pmThe old “ Do as I say not as I do ” from the higher intelligence liberals to US poor low lifers ! But when they get in trouble , need money , war , big problems solved , whom do they come running too ?
Report Post »dgonzalez01
Posted on July 17, 2012 at 3:46pmThe Democrat Party…The new face of fascism. The Democrat Party is not the party of big business (GE, Soros, Buffet, Wall Street, and numerous others). They represent the rich while enslaving the poor on government assistance. The war on poverty can show that the policies of the left enslave the lower class, destroy the family, increase children born to single mothers, increase crime and so on. We need policies that work and I am tired of giving chances to the Democrats to do it.
Report Post »IOWAGIR
Posted on July 17, 2012 at 3:39pmWho‘s to say that it’s not a plan by the gov. to do a land grab and eventually sell to per say China in order to pay our debt? I think it’s only a matter of time. What happens when we can’t pay and the dollar crashes? Lock and load people!
Report Post »GENEPAGLIARI
Posted on July 17, 2012 at 3:27pmToo bad if their mortgages are larger than their homes are worth. Caveat Emptor. Let the buyer beware. Speculate and sometimes you win, sometimes you lose. Let the banks take back the properties. After all, that is who truly owns most of the vehicles and homes and businesses in the whole country.
Report Post »AmericanPatriot
Posted on July 17, 2012 at 3:57pmI worked and saved all my life to be able to finally buy my first home at 52 years of age. There were times I lost belief in abilities, but it was my dream and I kept working toward it.
I looked around for years and ended up moving out of California and away from my friends and all I knew JUST to finally realize that dream. I’ve done it! I didn’t take any “special” loans or financial assistance and continue to support this house and myself all by myself. It’s difficult and getting even more difficult, but I‘ll continue to pay my mortgage and support myself by myself because that’s what I believe in.
Your callous thoughts and attitude are very discouraging and dismissing of those of us who have and continue to work to hard to realize that dream for ourselves. Just thought you should know.
Report Post »StacyR
Posted on July 17, 2012 at 3:23pmRun-a-way capitalism will be the death of the republic. How much more can we stand. We only have one chance to fix this country before it’s too late. It’s time to use “The Nuclear Option” that the founding fathers left behind when our country starts to feed on itself just before it dies.
“Democracy never lasts long. It soon wastes, exhausts and murders itself. There was never a democracy that did not commit suicide.”
― John Adams
Wake up people – It’s TIME!
“Be Smart!” –
FIGHT THE CAUSE – NOT THE SYMPTOM
U.S. Citizens
Read “Common Sense 3.1” at ( http://revolution2.osixs.org )
Non U.S. Citizens
Read “Common Sense 3.2” at ( http://SaveTheWorldNow.osixs.org )
Free people don’t have to live like slaves. The real question is, are you really free? Prove it!
Report Post »Plan B
Posted on July 17, 2012 at 8:22pmYou are insane. A democracy with the dumbed down people in this nation will never work.
Report Post »You can’t even get half of them to wake up to what is going on around them. There is no way that I would support anything other then a Republic which we have now-it just needs to be fixed. Getting rid of the epa, fda and all the other agencies that are manipulated by special interest should be number 1. Any agencies that are kept should not be allowed to pass rules, only give recommendations, everything needs to be approved by congress. Patriot act needs to be totally repealed. Do you even realize if you are reading this website you are in the minority and a democracy(mob rule) would not turn out exactly how you expect. You would have a country run by masses of fools with no real education-just the green loving global warming baby killing tools.
thelanes0930
Posted on July 17, 2012 at 9:25pmI agree with Plan B. The FDA wants to stop whistleblowers. What does the FDA have to do with national security anyhow? It’s just a way to dumb us down. We haven’t protested or fought so far so then they take it to the next level the the next level after that. There is nothing happening with the housing market that wasn’t already planned in advance. The Soros/Obummer combo are dangerous but Romney sure isn‘t defending himself or when he does it’s like a little girl slapfest. This is the most shameful election I have seen in my lifetime.
Report Post »Billis820
Posted on July 17, 2012 at 3:19pmIsn’t this what got us into the fiscal mess in the first place? I thought it was all caused by evil banks and greedy bankers and the Bush and the Koch brothers. I guess the liberals are just as much to blame. I guess its only bad when the private sector does it, but it’s totally fine when the government does it.
Report Post »IMCHRISTIAN
Posted on July 17, 2012 at 3:16pmWhat a scam. How stupid do you have to be to steal and then sell to someone that goes around trying to ruin Countries. I pray for the people that are unemployed and doing the very best they can to find work. May evil tear at your heart if evil is in your thoughts.
Report Post »historyguy48
Posted on July 17, 2012 at 3:11pmComrades they blatantly demonstrated with GM that laws don’t mean squat to the elites!
Report Post »We are a country of men, not laws, so this is the way it is and will be!
Listen to the rap song “The Bro has to go”, it’s pretty funny!
progressiveslayer
Posted on July 17, 2012 at 3:10pmThe article mentions ‘property rights’ that’s very funny because if you think you own your property your mind has been conditioned very well indeed. One of the ten planks of the communist manifesto clearly states the abolition of all private property rights.You don’t own your property,just try and make improvements and see how many government drones you have to go through to use your own property and tell me how you think you own your property.
Report Post »historyguy48
Posted on July 17, 2012 at 3:23pmComrade don’t forget about property taxes, they go on forever and if you don’t pay them they will take your property!
Report Post »RJJinGadsden
Posted on July 17, 2012 at 3:08pmIn a few years the cities of Ontario and Fontana will be headed into bankruptcy. Not a wise idea.
Report Post »The-Monk
Posted on July 17, 2012 at 3:27pmHi RJJ,
I’m not so sure that statement at the end of the article is true. I’ll have to do some research.
“Most states would prohibit this kind of taking under state constitutional law, including California, where they’ve never allowed eminent domain to benefit private parties.”
What do you think?
Report Post »Micmac
Posted on July 17, 2012 at 6:47pm@ Munk
Google Kelo eminent case. Therein lies your answer.
NoBama > MoBama
Report Post »ipockpa
Posted on July 17, 2012 at 3:00pmI’ll never understand why people think that if Obama is turned out of office in November this kind of thing will end. There is no reason to believe Romney or anyone else wants to stop this.
Report Post »IMCHRISTIAN
Posted on July 17, 2012 at 3:19pmWe do know for sure if Obama is not voted out of office it will happen. Truth will defeat evil
Report Post »Snowleopard {gallery of cat folks}
Posted on July 17, 2012 at 2:58pmOnce the land grab by the government is established as precident, then Obama will commence it in force across the board; and the only one who will benefit in the end is Soros.
Report Post »hayesstephen
Posted on July 17, 2012 at 3:06pmI don‘t all way’s agree with you Snow but you hit the nail on the head this time. Nobummer is the most dangerous evil force America has ever had to face. I fear Yahweh God has turned his face from us. Did you see what happened in Jacksonville Florida last night? This is now the beginning of the end for our Beloved Republic.
Report Post »mtcountrygrl
Posted on July 17, 2012 at 3:13pmWhat will happen…People in California will no longer be able to get mortgages. Who would loan money to people living in a state that will just seize the mortgage and make you take less for re-payment.
Report Post »gemstate01
Posted on July 17, 2012 at 2:54pmThis is how contries fall into dictatorships. They will kill those who go against the grain if he gets re-elected. The new health care crap law gives them access to your bank accounts. No joke. They will have control of everything. I cannot believe this is happening to us! Liberty or Death!!
Report Post »HKS
Posted on July 17, 2012 at 2:39pmLooks like Obama’s plan coming together to me, drive everything into bankruptcy and then buy it for a song. That way the brothers of communism can make more money. Is this a great country or what, use taxpayer money to crash the system, buy it for yourself cheap and make your family rich. It’s all about money ya know.
Report Post »ijava44
Posted on July 17, 2012 at 2:37pmWith thinking like this its easy to see why California is doomed. I just hope the survivors can make it across death valley.
Report Post »girlnurse
Posted on July 17, 2012 at 2:45pmYea California is going UNDER! This is how hard up they are for money:
They sell their office buildings to get the cash and then they rent them back from the new owners!!
http://lao.ca.gov/reports/2010/edu/sale_leaseback/sale_leaseback_042710.aspx
Yet Jerry Brown is hell bent on building a train to SanFran sicko! Which nobody will go because there are so many homeless defecators and panhandlers on the streets!
Report Post »Are we in the TWILIGHT ZONE!?
TomSawyer
Posted on July 17, 2012 at 2:52pm“You can check in but you can never leave.”
Report Post »justangry
Posted on July 17, 2012 at 3:00pm@Girlnurse, I believe we are. Right is wrong and wrong is right. Veterans, liberty lovers, nationalists, etc. are terrorists. Granny is groped at the Airport while anyone wearing traditional Muslim dress gets a pass so no one gets offended. The Rominee is for gun control (never thought I’d see the day the republicans would sink so low) . The people working 2-3 jobs are less valued than the people that do nothing. I don’t even recognize this country anymore.
Report Post »HKS
Posted on July 17, 2012 at 3:16pmPoverty is the roach motel. Obama knows that.
Report Post »progressiveslayer
Posted on July 17, 2012 at 3:24pmGIRLNURSE We are currently being ruled by a Marxist who sees the constitution as a mere inconvenience to be ignored and or violated at his pleasure.The vile Marxist POS kept one promise,to fundamentally transform America and he’s done it,we are a de facto communist state and the masses don’t even realize it.
It took them roughly a century and they did it with nonviolence because they knew they would be crushed if they went the violent route.It’s diabolically ingenious the way they went about it,slowly chipping away at the constitution to pervert it to fit their agenda.Indoctrination into communism in the public school monopoly system,removing all mention of God from all public buildings,the so called environmental movement to destroy our economy through insane regulations designed to keep businesses from starting up and putting existing businesses out of business.The creation of the ‘progressive’ income tax and I could go on and on but maybe someone else cant think of more ways we’ve become a communist state.
Report Post »justangry
Posted on July 17, 2012 at 2:37pmWould you please report on other billionare globalists? We already know Georgie is a giant douche, what about all his friends in the CFR? Are they not complicit?
Report Post »DevilsAdvocate
Posted on July 17, 2012 at 3:11pmYes, Eyes agree fooly! Les look at dem Koke boys nex. Day hallready be buyin‘ up Wizconzin startin’ wif de Guhberner! Hu els be byin’ n bean baught?
Report Post »SREGN
Posted on July 17, 2012 at 2:32pmPerverts, Thugs, and Thieves: The New Democratic party. (To the tune of Gypsies, Tramps, and Thieves)
Report Post »justangry
Posted on July 17, 2012 at 2:52pmI kind of think most Democrats are being duped by their party elites as much as the Republicans are being duped by theirs.
Report Post »lstoddard004
Posted on July 17, 2012 at 2:31pmWe must vote Obama and his administration OUT in November. Clear and simple!!
Report Post »TRILO
Posted on July 17, 2012 at 4:07pmThat will not get rid of the problem, it will just forestall it. The communist and fascist progressives have taken over the entire government. Rather then focusing so much on the TOTUS people had best start paying close attention to who they elect as their congressman and senator on both sides of the political aisle.
Report Post »