Richmond, Calif.'s eminent domain plan prompts Calpers' concerns

10/1/2013 | Reuters

The California Public Employees' Retirement System is among the investors concerned about a plan by Richmond, Calif., to use eminent domain to seize troubled mortgages. "We are sympathetic to homeowners but as fiduciaries, our focus must be in the best interests of our members," said Calpers spokesman Joe DeAnda. "We are watching the issue closely and have some concerns about the precedent this may set and the impact to investors." Read SIFMA's statement on Calpers position on eminent domain plan in Richmond. Learn more at SIFMA's Eminent Domain Resource Center.

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