Thursday, April 14, 2011

Bush Condemned Property Via Eminent Domain to Build Rangers Stadium - And Made $14 Million Off the Deal

By Jon Ponder, Pensito Review

Governing elite: The recent Supreme Court decision that allows local governments to use eminent domain to evict property owners in order to use their property for private development set off a howl on the Right.

To counter the ruling, Republicans in Congress are working on legislation that would cut off all federal funding to local governments who use eminent domain to evict property owners.

The president may have a hard time keeping a straight face when he signs the bill, however. In his past life as a baseball team owner, Mr. Bush profited from exactly this sort of eminent domain eviction - to the tune of $14.3 million.

[ ... ]

Bush sold his interest in the Rangers in 1998 for $14.9 million. He had invested a total of $606,302.27 [in 1989] and was one of two managing partners.


Posted by Peacedream

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