Calif. county revisits eminent domain idea

01/24/2013 | Los Angeles Times (tiered subscription model)

San Bernardino County in California is planning to hold a public meeting today on the idea of using eminent domain to seize certain troubled mortgages. Experts have been raising concerns about the idea since it was first proposed last year. "Any proposal involving eminent domain will do more harm than good to the markets," said Tim Cameron, a SIFMA managing director. "Put yourself in the position of an investor investing in a product: That is an additional risk, an unquantifiable risk ... and that's the type of thing that causes premiums to go up."

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