Today on Your Call: Can a single city take on the big banks?
On today’s Your Call, we’ll have a conversation about cities, which have considered using eminent domain to help their residents with underwater mortgages keep their home. Recently, Richmond became the first city in the nation voting to use eminent domain to try to rescue underwater homeowners. What are the legal and economic challenges to the plan? How has the financial industry fought back? And are other cities with high foreclosure rate ready to follow suit? Join the conversation and call in with your questions on the next Your Call, with Rose Aguilar, and you.
Robert Hockett, professor of law at Cornell University Law School
David Sharples, local director for Contra Costa Alliance of Californians for Community Empowerment
Marilyn Langlois, on steering committee of the Richmond Progressive Alliance