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House acts against high court on eminent domain
Court News |
2012/02/29 09:41
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The House sought Tuesday to undercut a 2005 Supreme Court ruling that gives state and local governments eminent domain authority to seize private property for economic development projects.
Sponsors of the bill, which passed by a voice vote, said it was needed because the 5-4 high court ruling skewed constitutional intentions that eminent domain apply only to land for public use projects.
That ruling, said bill cosponsor Rep. James Sensenbrenner, R-Wis., justified "the government's taking of private property and giving it to a private business for use in the interest of creating a more lucrative tax base." As a result, he said, the "government's power of eminent domain has become almost limitless, providing citizens with few means to protect their property."
His legislation would withhold for two years all federal development aid to states or locales that take private property for economic development. It also bars the federal government from using eminent domain for economic development purposes and gives private property owners the right to take legal action if provisions of the legislation are violated. |
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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