Is Eminent Domain to Write Down Mortgages Unconstitutional? A Mandelman Matters Podcast
This is Part 4 of a series of Mandelman Matters Podcasts with Professor Robert Hockett of Cornell University Law School.Â Heâ€™s the author of, â€śThe Municipal Plan,â€ť which describes why and how a city could use the power of eminent domain to take over loans and write them down for homeownersâ€¦ it’s the plan now being considered by 26 cities across the country.
Bring this topic up almost anywhere and chances are that someone will immediately call it unconstitutionalâ€¦ but is it?Â
Well, in Part 4, Professor Hockett will very specifically address the constitutional issuesâ€¦ itâ€™s obviously not the first time heâ€™s considered the questionâ€¦ and why he thinks the whole issue of constitutionality is nothing more than a bluff.
Weâ€™ll also hear about FDRâ€™s administration, which also faced a foreclosure crisis that had started in the latter part of the 1920s, and weâ€™ll find out how his administration addressed the problem back then.Â Although the problem is very much the same, the solutions were certainly very different than what weâ€™ve done since 2008.
Professor Hockett will also talk about whether the opposition is likely to be able to â€śtie up the plan in the courts for years,â€ť which is another statement I often hear from people on both sides of the debate.Â Spoiler alertâ€¦ Professor Hockett says thatâ€™s not going to happen.
And weâ€™ll talk about the financial aspect of implementing the plan, where the money will come from and why he is sure that it will actually represent a win-win for everyone involved.
This is the most hotly debated issue of the foreclosure crisis, and you donâ€™t want to miss the opportunity to hear the details straight from the man who not only authored the plan, but who today is consulting with cities across the country as they decide whether it will be right for them.
He’s appeared on CNBC, and been interviewed by The New York Times, Time Magazine, BusinessWeek, and countless others… now he’s here with an in-depth discussion on this Mandelman Matters Podcast.
This podcast is divided into two partsâ€¦ SIDE A and SIDE B, in order to make it easier to divide up your listening timeâ€¦ each side is 30 minutes long, give or take, and I can’t decide which side I like better, so you should listen to both.
Turn your speakers up and CLICK the ‘A’ or ‘B’ side to PLAY below.Â Â
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