Investors Sue California City Over Foreclosure Measure
In Richmond, CA, Mayor Gayle McLaughlin and City Councilmember Jovanka Beckels are leading an initiative to use eminent domain to stem the foreclosure crisis. The founders of investment firms BlackRock and PIMCO, Larry Fink and Bill Gross respectively, are suing the city to stop it. Protesters from SEIU and the Alliance of Californians for Community Empowerment (ACCE) disrupted a forum featuring Fink and Gross for the UCLA Anderson School of Management. I spoke to the two investment chiefs after the event. Featuring a sneak peek for my upcoming music video parody "Ted Cruz Sings Miley Cyrus."