Reply to thread

Message

<blockquote data-quote="Oerdin" data-source="post: 198197" data-attributes="member: 128">BTW those &quot;nonprofits&quot; can have for profit arms so it is going to only be the extremely wealthy and politically connected who get to bid.&nbsp; They now have exclusive access to take over every foreclosed property in the state.&nbsp; Regular people need not apply.&nbsp; Also who wins is not based upon who pays the most for the property, as this works every where else, no politicians get to decide based upon &quot;intangible factors&quot; like social justice or race or just because that company gave a politician massive bribes.This will obviously cause massive corruption among politicians while banks and investors get short changed.&nbsp; This will mean everyone seeking a mortgage in the state will now have to pay more because banks can no longer unload a foreclosed property on the open market but only get a depressed amount based upon a few big politically connected bidders.&nbsp; So everyone but corrupt politeness corrupt donors will be worse off.</blockquote>

[QUOTE="Oerdin, post: 198197, member: 128"] BTW those "nonprofits" can have for profit arms so it is going to only be the extremely wealthy and politically connected who get to bid. They now have exclusive access to take over every foreclosed property in the state. Regular people need not apply. Also who wins is not based upon who pays the most for the property, as this works every where else, no politicians get to decide based upon "intangible factors" like social justice or race or just because that company gave a politician massive bribes. This will obviously cause massive corruption among politicians while banks and investors get short changed. This will mean everyone seeking a mortgage in the state will now have to pay more because banks can no longer unload a foreclosed property on the open market but only get a depressed amount based upon a few big politically connected bidders. So everyone but corrupt politeness corrupt donors will be worse off. [/QUOTE]

Name

Verification