The city of Richmond, California is a lot like other blue-collar towns.
It has about 100,000 residents, and one of their biggest employers is the Chevron oil refinery. It's also seen a lot of damage inflicted by the housing crisis, with a rising number of foreclosures and plummeting real estate values. Many of Richmond's homeowners are living with a mortgage that's underwater.
Which is why city officials are considering a novel approach by utilizing the legal authority known as eminent domain
It's based on an approach developed by Robert C. Hockett, a Cornell University law professor, and its been simultaneously applauded and blasted by industry experts.
Professor Hockett joins the show to explain how it will work.