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Investors With Ties To Buffett, Soros, Obama Plan Mortgage Eminent Domain Grab
Future of Capitalism ^ | 061512 | Ira Stoll

Posted on 06/15/2012 7:58:19 AM PDT by Fred

A group of businessmen with ties to Warren Buffett, George Soros, President Obama, and socialist senator Bernie Sanders are pushing a plan to use the government's power of eminent domain to seize billions of dollars worth of underwater mortgages from banks and bondholders.

Word of the plan surfaced earlier this month in a Reuters dispatch that reported the eminent domain strategy but not the political ties of the businessmen involved in the plan nor their links to two of America's most prominent and outspoken billionaires. The Reuters article said a firm called Mortgage Resolution Partners, chaired by Steven Gluckstern, a former owner of the New York Islanders hockey team, was working with politicians in Nevada, Florida, and California's San Bernadino County to advance the plan.

(Excerpt) Read more at futureofcapitalism.com ...


TOPICS: Politics/Elections
KEYWORDS: buffett; mortgages; obama; soros

1 posted on 06/15/2012 7:58:28 AM PDT by Fred
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To: Fred

free houses, vote form Odungo


2 posted on 06/15/2012 8:03:02 AM PDT by Doogle (((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated)))
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To: Fred
Gluckstern acknowledges that using eminent domain for mortgages is untested...

And just what would they do with the houses? Tear them down? Build mini-parks? Fill them with Section 8 criminals? This could be the ultimate 'payback'... how dare they.

3 posted on 06/15/2012 8:05:06 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: GOPJ

Yup, free housing to those 800,000 Criminal invaders Zero is gonna give amnesty to.


4 posted on 06/15/2012 8:10:58 AM PDT by VRWCarea51
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To: Fred

I was going to say that they can’t use eminent domain that way, then I remembered the last SCOTUS decision on the subject. It basically allows the government to force sale if only to allow a higher tax paying entity to move in.

So, never mind...


5 posted on 06/15/2012 8:14:39 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: GOPJ

Just tip off the ‘Occutards’ when it happens and tell them to move right in.

Let the moonbats fight to the death over them.


6 posted on 06/15/2012 8:14:39 AM PDT by Beagle8U (Free Republic -- One stop shopping ....... It's the Conservative Super WalMart for news .)
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To: Doogle

Yep, just keep choking off the economy and soon 3/4 of the population will have their homes taken away and given back to them if they “behave”. Makes me think of the USSR.

Home ownership will be a thing of the past...”a government big enough to give you everything is big enough to take it away”


7 posted on 06/15/2012 8:21:43 AM PDT by kevslisababy
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To: Fred

I’m so stupid for not stealing hundreds of thousands of dollars from other tax payers and future generations.


8 posted on 06/15/2012 8:23:30 AM PDT by cicero2k
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To: Fred

Mortgages are assets to lender/servicer, NOT homeowners. They’d be condemning assets of banks, not assets of homeowners.

“Condemning” mortgages will have no effect on the home. Mortgages in a general sense are contracts that can be bought and sold - not amended w/out all parties in agreement.

If those dudes want to hold those mortgages, I’m pretty damn sure they could just buy them. I can’t imagine how eminent domain would even be in the discussion. The only way I can connect the two is to imagine that by “condemning” the mortgage somehow, the price of said contracts could be less but even that is unclear.

Something else is going on here and the article doesn’t help us see what it is. But w/ Soros, Buffet, and 0dumbo, it can’t be good for the nation.


9 posted on 06/15/2012 8:29:19 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: Fred
Steven Gluckstern, a former owner of the New York Islanders hockey team

One of the former owners of the Islanders had his check for the team purchase bounce. This was the guy I assume?

10 posted on 06/15/2012 8:36:14 AM PDT by Buckeye McFrog
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To: Principled

Excellent summary, to straighten out some of the misconceptions earlier in the thread. They must figure they can pick up the mortgages at MUCH lower prices with the state coercion. The banks are likely to fight back, unless in on the scam.


11 posted on 06/15/2012 8:37:18 AM PDT by expat2
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To: Principled

Exactly.


12 posted on 06/15/2012 8:38:45 AM PDT by youngidiot (Hear Hear!)
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To: All

This was the gameplan ALL along.....


13 posted on 06/15/2012 8:50:44 AM PDT by Ferris (Man will come to learn that galaxies are consciousness factories)
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To: Beagle8U

You want them living next door to you? Better plan: We collect money - pass laws - go non-profit and MOVE THEM in next door to Buffett and Soros and THEIR friends and family.


14 posted on 06/15/2012 8:54:55 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: Beagle8U
You want them living next door to you? Better plan: We collect money - pass laws - go non-profit and MOVE THEM in next door to Buffett and Soros and THEIR friends and family.

If it not a BAD thing - and according to liberal elites it's a GOOD thing - they won't object. Buffett's rich frinds will love the opportunity...

15 posted on 06/15/2012 8:56:09 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: Fred

More freebees to the 50%+ who don’t pay taxes?


16 posted on 06/15/2012 8:58:53 AM PDT by rbg81
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To: VRWCarea51

We need to REALLY help the downtrodden - let’s move them into Buffett and Soros’ neighborhoods. Might need to put 50 to 60 of them in one mansion but, hey, it would be worth it. Taxpayers will save and who knows - maybe those upper class elite values will ‘rub off’ on them. Isn’t that the theory?


17 posted on 06/15/2012 8:58:53 AM PDT by GOPJ (Take your little hammer, little sickle and your scary red signs with a fist on it, and go home...)
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To: Fred

Warren Buffett. That grandfatherly image sure fooled a lot of people, but his true colors have come out.


18 posted on 06/15/2012 9:00:24 AM PDT by MichaelCorleone (The GOPe has played us like a violin for the last time; high time to build the Constitution Party.)
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To: Fred; blam
This is impossible! Free houses only go to ‘DEAD BEATS’! No one is perverting real estate law other than the ‘DEAD BEATS’ Attorneys! This is the matra of so many on FR, but then there are a handfull of us who have been warning for years now that if you let long standing real estate laws be broken, bent, abused, ignored just so you can punish the 'DEAD BEATS' soon or later some slick 'shysters' and 'banksters' would use those 'new' rules to their own gain. You reap what you sow. Here comes the harvast.
19 posted on 06/15/2012 9:10:26 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: GOPJ
Might need to put 50 to 60 of them in one mansion but, hey, it would be worth it.

Scenes from Dr. Zhivago(sp) come to mind.

20 posted on 06/15/2012 9:19:24 AM PDT by VRW Conspirator (Article 58)
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To: Fred

Obama’s cronies getting concerned that there’ll be no second term for them to cash in on their schemes, that they have to move up their timetables at the risk of making Obama’s now less-likely re-election more difficult?


21 posted on 06/15/2012 9:34:00 AM PDT by 9YearLurker
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To: Principled

“Mortgages in a general sense are contracts that can be bought and sold - not amended w/out all parties in agreement.”


Sort of like how GM’s bond holders had a contract which could not be amended w/out all parties in agreement! Oh wait, maybe not!!!!

There is no law when it comes to the Federal Government. Like Pete Sark (traitor REP: CA) publicly stated “the Federal Government can do whatever it wants”.

People, come on they are flaunting their unbridled power in our face and laughing at us.

Just what kind of wimps are we? We are living in a country designed deliberately from the ground up with a extremely limited Federal government and with even an escape plan detailed by Thomas Jefferson, yet we have let them completely ignore the Constitution and remain in power.

What good is an oath if it can be violated with immunity?


22 posted on 06/15/2012 9:38:33 AM PDT by Wurlitzer (Nothing says "ignorance" like Islam!)
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