Gayle McLaughlin, the bold mayor of Richmond, California is threatening to take underwater mortgages by eminent domain from Wall Street banks and renegotiate them on behalf of beleaguered homeowners. A member of the Green Party, which takes no corporate campaign money, she proved her mettle standing up to Chevron, which dominates the Richmond landscape. Richmond’s city council is only one vote short of the supermajority needed to pursue the eminent domain plan.
In These Times UpRising
GRITtv with Laura Flanders explores how eminent domain power could help cities combat the power of the finance sector and give mortgage relief to underwater homeowners.
In These Times
The New York Times
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