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By Jonah Raskin $16.47
By Raul Hilberg
zampano!!! (CC BY-NC-ND 2.0)
Richmond plans to use eminent domain powers to seize bad mortgages and resell them at property value to new mortgage holders, helping its residents get out from under massive debt. Whether it will work is a big question mark.
walknboston (CC BY 2.0)
Rather than mobilizing savings to fund new industries, the banking system that comprises the financial, insurance and real estate sectors merely loads the economy down with debt.
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