Trina Scordo: Can Richmond’s Bold Plan to Fix the Mortgage Mess Help Newark New Jersey? [Excerpt]

New Jersey is faced with the second highest rate of foreclosure in the entire country, and foreclosures in Newark are costing the city, taxpayers and homeowners millions of dollars. Trina Scordo, Executive Director of New Jersey Communities United, joins us at GRITtv to explain how eminent domain power could help cities combat the so-far unchallenged power of the finance sector. Eminent domain has been used plenty of times, as Scordo puts it: “to extract wealth from communities”, especially poor communities of color. Could it be used now to put wealth back into those communities? It’s quite possible. Distributed by OneLoad.com