Lt. Gov. Gavin Newsom speaks Tuesday at the Engineering and Cyber Security Workforce Development Summit at Cal Poly Pomona. (Will Lester/Staff Photographer)
Beau Yarbrough, Staff Writer
Posted: 10/09/2012 06:10:55 PM PDT
POMONA – Lt. Gov. Gavin Newsom doesn’t know if he agrees with eminent-domain powers being used to buy up the mortgages of homeowners who owe more than their homes are worth – but he applauds the experiment.
San Bernardino County and the cities of Fontana and Ontario formed a regional group in April that may use eminent domain in a new way.
Eminent domain is an often-controversial legal power used to seize properties for the public good, typically to secure right-of-way from property owners asking for more than market value for land wanted for civic improvement projects.
The joint-powers authority may use eminent domain to buy up “underwater” mortgages and replace them with more affordable new mortgages.
The move would be intended to head off foreclosures in a region where more than half of homes are either worth less than the mortgages owed on them or are being foreclosed upon.
“I like the ability for local government and municipalities to impact their local communities in a positive way,” Newsom said Tuesday, during a visit to Cal Poly Pomona.
The lieutenant governor was at the university for a summit that brought together cyber- security companies and educators.
On Sept. 10, Newsom sent a letter to U.S. Attorney General Eric Holder, calling on the Department of Justice to investigate threats of retaliatory action by the mortgage industry.
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“The lieutenant governor was at the university for a summit that brought together cyber- security companies and educators.”
“Newsom doesn’t know if he agrees…but he applauds the experiment.” What an insult to our intelligence Newsom’s presence is! A five year old could have delivered THAT MESSAGE!
Newsom continues to be WORTHLESS- the purpose this appearance was for WHAT PURPOSE?
Oh, but of course, I forgot, he was on a “break” from filming his Hollywood show, and Pomona was the closest city he could run to and make a “public appearance” in order to justify his outrageous salary as “lieutenant governor”.
Newsom, isn’t he the guy that wanted (and eventually got) Dan Richards removed from the Fish & Game (now it’s WILDLIFE) Commission for the Mountain Lion photos of a legal hunt?
He’s about as green as they come, don’t tell me, another law school graduate that thinks he knows something about the condemnation of real property (and apparently with this JPA, PERSONAL PROPERTY also) so that some private company can collect a fee for taking over the mortgage.
All this says is that Newsom has already made a deal with the Devilreaux, trying to make it look like the government is really doing something about the “underwater” loans as a diversion, because the real problem is job loss, aka unemplyment/ underemployment.
Because of the business-unfriendly environment that’s been created by the fed/state/locos all trying to keep their piece of the pie, while small business and the general populous continue to SUFFER and STARVE!
This is not what eminent domain was ever supposed to be used for. Shameful.
“Shameful.” Nicely put.