In 2010, Los Angeles passed a law to fine banks $1,000 a day for each blighted foreclosed property they owned. How much money's been collected since? Zero dollars. The city doesn't have anywhere near the number of inspectors it'd need to constantly check up on foreclosed properties, so City Councilmember Eric Garcetti has suggested rewriting the ordinance "to make banks pay an enforcement fee to help pay for an small army of code enforcement inspectors." [LADN, image via]
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