It ends up there are some disadvantages to privatization. Cenk Uygur as well as Ana Kasparian break it down. Brought to you by An Inconvenient Follow up: Reality To Power
" A resourceful couple southern Bay was simply able to acquire a community road from an on-line public auction as a result of a bookkeeping mistake, The San Francisco Chronicle records. Now the neighborhood is stressed over the ways the couple might try to profit the purchase.
The couple, Tina Lam and also Michael Cheng, who run realty company Archers Funding, got Presidio Balcony, a one-block oval street just northwest of downtown San Francisco. It is surrounded by multimillion dollar manors (below's the Google Road Sight), as well as up until 1948, it was racially segregated. That is, a few years back, Tina as well as Michael could not get a home on Presidio Balcony. Currently they possess it, and also they might start charging residents for auto parking, The San Francisco Chronicle records.
The reason why Cheng and also Lam were able to pick up the street pertains to an idiotic bookkeeping mistake involving an inexpensive annual tax obligation expense, as the neighborhood paper records:
The couple's purchase appears to be the end result of a funny of mistakes entailing a $14-a-year property tax costs that the house owners organization cannot spend for 3 years. It's something that the proprietors of all 181 exclusive roads in San Francisco are obliged to do."
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Hosts: Cenk Uygur, Ana Kasparian
Cast: Cenk Uygur, Ana Kasparian
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