Calif city looks to seize loans to ease mortgages | CNS News. The left never ceases with its insistence on relieving consumers of personal responsibility. Any investor must realize that there is never a guarantee that that investment will increase, or be safe from a decrease in value. It is never the place of any government entity to guarantee or safeguard such an investment. Buying a home, like it or not, falls under the category of an investment. The use of eminent domain voids a contract in which the borrower agreed to repay a certain amount of money. The home buyer did it willingly without coercion. It is therefore their duty to repay that loan under the terms agreed to in the contract. The city of Richmond, CA is choosing to waltz down the road of Marxist tyranny under the guise of “actions for the good of the community”, in a form of possibly government approved bank robbery, as it threatens to seize the loans of Wells Fargo unless it agrees to accept repayment of a lower loan amount. Welcome to George Orwell’s 1984, where Big Brother decides what is best for everyone.
(H/T: CNS News)