Eminent Domain to Save Homes. Following on the steps of the city of Richmond, in northern California, the Mayor of El Monte Andre Quintero is exploring the unprecedented idea of using eminent domain powers to seize underwater mortgages from banks, write down those loans and then refinance homeowners at better terms. Richmond became the first city in the nation to adopt the plan. Groups from the banking industry are waging a powerful opposition. This is a conversation with the mayor of El Monte.
Guest: Andre Quintero, Mayor, El Monte, California, http://www.ci.el-monte.ca.us/
Also, Obama on Health Website Woes. President Obama addressed in a speech at the White House the problems of the national health website where people apply for and buy insurance. Obama said while the website is facing glitches, the health insurance is working fine. This segment includes fragments of President Obama’s comments.
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