Newsom attacks property rights

Newsom attacks property rights

July 30, 2012

By John Seiler

Lt. Gov. Gavin Newsom, trying to conjure up something useful from his worthless job, has positioned himself supposedly as a “pro-business” Democrat. He even went to Texas to say how the Golden State could learn something about jobs creation from the Lone Star State.

But he just backed the assault on property rights in San Bernardino County that would use eminent domain — government seizing property — to dispose of distressed mortgages. He said, “This idea is bold. This idea is meaningful.”

No, it isn’t. It’s robbery.

As my colleague Steven Greenhut wrote about it on our site last week:

“It’s a “win-win,” according to supporters, except that it comes out of the hide of the current lenders, who would lose their property – or at least lose the chance to collect the money owed them. I can come up with a similar “win-win” scheme whereby I steal your money and spend it on a new car. Don’t complain. It’s a “win-win” for me, the car dealer and even the DMV.

“For those who shrug off this money grab out of dislike for banks, consider that the plan, in order to avoid political push-back, exempts all Fannie Mae and Freddie Mac mortgages and those held by major banks, so it only targets privately held mortgages.

“This is a troubling abuse of government power to advance the interests of private parties. Likewise, the only beneficiaries from the new Homeowner Bill of Rights will be private attorneys who gain a new target. These laws aren’t about fixing the mortgage crisis. They are about special interests using government to help them get their piece of the action before the crisis goes away.”

But Newsom, a favorite to be the next governor, probably is ahead of the curve. Led by California, America quickly is becoming an anti-property rights, anti-capitalist, socialist hellhole. Here’s Gavin enthusing, although on a different policy. But he thinks the same about government grabbing your property:

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  1. Phineas
    Phineas 29 July, 2012, 23:36

    In fact, I wrote about this a few weeks ago: http://goo.gl/wxCKk

    This is a recipe for chaos, and can only be supported by a hack pol (Gavin Newsom) who puts winning votes ahead of the good of the state.

    Reply this comment
  2. Rex The Wonder Dog!
    Rex The Wonder Dog! 30 July, 2012, 00:19

    Newsome is a clown. He was a clown when he was apoointed to cuty supervisor in SF, and without slick willie browns help he woudl have never been elcted mayor.

    Reply this comment
  3. Dyspeptic
    Dyspeptic 30 July, 2012, 01:03

    “This idea is bold. This idea is meaningful.”

    Pretty Boy Newsome wouldn’t know a good idea if his tax payer funded limo ran into it. This guy is like a river that is a mile wide and an inch deep. There is nothing there except slicked back hair and very straight, supernaturally white teeth. The teeth are blinding, like the girl in the orbit gum commercial. The hair is so slick it looks like a teflon toupe. What a smarmy little pencil neck twerp.

    Get used to him because most likely he will succeed Jerryatric Clown as the next governor of the failed state of Kalifornia.

    Reply this comment
  4. Tax Target
    Tax Target 30 July, 2012, 05:56

    Let’s call him what he would be if this goes through: Hugo Chavez. The way this state is going the governor’s office would “nationalize” the oil industry, along with Verizon and General Motors…. oops sorry already did that one.

    Reply this comment
  5. John Davey
    John Davey 30 July, 2012, 06:17

    This is the Barack Obama of California. No there, there. Platitudes about being business friendly, but policies and actions antithetical to business and capitalism.

    After the tax increase initiatives fail in November, Newsom will be the first Democrat calling for State Employee Union and Pension reforms (that will play in the media, but actually will reform not a whit). He will run against Brown in 2014.

    Reply this comment
  6. Queeg
    Queeg 30 July, 2012, 08:29

    Hate to inform you, but Gavin will have no alternatives except bold changes due to the enrollment of over 7 million in FREE HEALTHCARE with no deductibles or copays! A bullet train to Palmdale, patronage state level “redevelopment”, your favorites “pensions” for GED cops and ff whiners and the ongoing campaign to avoid keeping teachers in rags…..

    Reply this comment

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