Monday, August 12, 2013

Will Contracts Be the Next Victim of Eminent Domain?

My latest post at The Object Standard blog sheds light on another emerging threat to our liberties. Here is the opening paragraph:

In 2005, in Kelo v. City of New London, the Supreme Court permitted cities to take land by force for the purpose of “economic development.” Now officials in Newark, New Jersey want to expand their use of eminent domain to seize mortgages in order to pressure lenders to the “negotiating table” and thus “help” homeowners with underwater mortgages receive a reduction in principal.

Read the rest of Newark Seeks to Use Eminent Domain to Extort Principal Reductions from Lenders.

A mortgage is a legally and morally binding contract voluntarily agreed to by lender and borrower, and each has a right to expect the government to enforce its terms.  Newark’s proposed actions constitute legally facilitated breach of contract.

To halt the ever-expanding eminent domain assault on our liberties, Americans must recognize that no public good can be served by violating the rights of any individual member of the public; that any implementation of eminent domain is an act of injustice. That's why, as I concluded in my TOS piece, we must call for total abolition of eminent domain.

Related Reading:

The Eminent Domain Assault by Readington Against Solberg Land is Democracy in Action—and Un-American

Honoring American Heroes . . . Forgetting American Ideals

Eminent Domain—Always an Abuse

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