It's Our Money with Ellen Brown - Eminent Domain to the Rescue? - 07/02/14

A flood of foreclosures in neighborhoods, cities and towns can cause
everyone's real estate equity to plunge. Some towns would like to step-in to
protect their communities, but they can't get the mortgage notes written
down to affordable levels for contractual reasons. The solution: use eminent domain
to claim the properties for the municipality, then renegotiate them on
behalf of struggling homeowners.  Ellen talks with the pre-eminent
legal mind behind the emerging eminent domain stratagem, Cornell professor
Robert Hockett, whose idea has been catching on in towns across America, including
some of the biggest.