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SamH
Guest
It was also government regulation (mark to market rule) that instantly made solvent lending institutions insolvent and destroyed the credit markets in a few short weeks. Except for the auto makers (and they should have been allowed to fail) the entire economic crisis could have been avoided without a tax dollar being spent if the FDIC and the SEC had simply changed their rule - but instead they decided to destroy the country in a power grab.Sorry it wasn’t the corporations TAKING, it was the GOVERNMENT declaring that a private corporation could use eminent domain. Had the government not allowed this it would not have happened.
Aside from that Kelo is one of the worst of SCOTUS’s history. Did you know the developer went bankrupt, left town and Mrs Kelo’s house still stands?
Again you mistake the role of GOVERNMENT in forcing people to give up their property. Cannot be done directly by a private company
LIsa
slate.com/articles/business/moneybox/2008/04/the_marktomarket_melee.html