Your mission Dan, should you decide to accept it, is to review the competing op-eds about Mortgage Resolution Partners-backed plan for municipalities to take underwater mortgages by eminent domain, and decide which ones are good, and which ones are full of it.
- "Eminent domain: all gain, no pain." By lawprof Robert Hockett, the fellow who thought up this brilliant plan, objecting to the objections. We'll grant this: he comes up with good titles for his pieces (see "Paying Paul and Robbing No One").
- Our Owners' Counsel of America colleague from Boston, Jim Masterman, has penned this critique of the plan in the National Law Journal, "An Eminent Domain Play for Loans is All Wet."
- Our California OCA colleague Ed Burg has a similar opinion, expressed in his piece "Seizing Underwater Mortgages: An Idea That's All Wet." Hey, did they talk about titles?
- "California Eminent Domain Isn't Government Run Amok," says Stephen Mihm at Bloomberg.