Bankers Liked Eminent Domain Until it Benefited Homeowners


(00:00) New York Times journalist Shaila Dewan explains how eminent domain might be used to help citizens in Richmond, California with underwater mortgages. It could sustain property values, provide a stable tax base, and help people who never recovered from the mortgage meltdown in the Great Recession. Who could be against that? The bankers even though there is a case it could help them, too. However, they don’t want the precedent.

Guest: Shaila Dewan, Economics Reporter
Learn more at: The New York Times Company

(23:48) Public banking would help Richmond, California and their banking issues. In fact, public banking would be the greatest economic engine imaginable by any municipality or state that dares to undertake it. Unfortunately, the bankers swarm to kill all attempts at public banking lest people see how successful it would be. North Dakota is raking in tens of millions of dollars a year. Costa Rica keeps it despite IMF pressure. The TPP tries to prevent it before it ever gets a chance. What don’t the bankers want you to see?

Guest: Ellen Brown, Candidate for California State Treasurer
Learn more at: Public Banking Institute

Music Featured:
“Cry Freedom” – Dave Matthews
“Fade to Black” – Metallica

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About Author

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The Tim Danahey Show started in July, 2010 at internet station Castle Rock Radio. It started as a one-day-per week endeavor and quickly grew to five days per week. The show discusses economics, government, social issues, history, and non-fiction books in a magazine format featuring in-depth conversations with guests. Politics and inflammatory conversations are discouraged as they are divisive and counter-productive. Instead, the show seeks under-reported topics and delves into facts, different perspectives, and ramifications of each perspective.