What Happens When You Lower the Bar on Property Rights

Here's an ugly eminent domain story that ran in the L.A. Times this weekend:

A year after Los Angeles seized three acres from a private company to construct a public building, a city councilman wants to sell the land to another private firm for a commercial development.

Both companies are furniture manufacturers. But executives with the company that would buy the land have political connections and have made $17,600 in campaign contributions to key city leaders.

More here.