Eminent Domain Hypocrisy
Jeb Bush has been highly critical of Donald Trump for trying to acquire the home of a 'little old' lady who didn’t want to sell her home to him through eminent domain. Trump went to court and eventually lost.
It has just come to my attention that the Bush family, namely his brother, former President George W., profited handsomely through his interest in the Texas Rangers baseball team. The team uses a stadium in Arlington, Texas, which was built, while the former President was involved, with extensive use of eminent domain. Apparently, President George W. Bush, prior to becoming governor of Texas, invested +/- $600,000 in 1989 for a 1.8 percent interest in the team (plus another 10 percent bonus if the team is later sold and the investors get back their original investment plus interest) and ended up with +/- $15,000,000 in 1998 when the team was, in fact, sold . A very tidy profit to say the least.
You can read a more complete history of the Arlington stadium saga here.
I am sure that Jeb is demanding that all of his brother's ill-gotten gains be returned to those whose property was stolen from them at the point of a gun.
But for now, Jeb Bush, as he wipes all that egg off his face, should just sit down and shut up. How embarrassing!
Note: I would like to point out that I am not a fan of eminent domain for private use and have actually been victim of a taking of a property which was supposedly to be used for airport expansion, but is now a neighborhood Wal-Mart. We were forced to sell at appraised value and no one could really fight the taking because the individual properties were so inexpensive to begin with.
Posted by Rick | February 8, 2016 10:49 PM