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« Push Button Men | Main | Bredesen Pork Political Payoffs? » May 31, 2007Bredesen Signs Anti-Consumer Ban on Real Estate Rebates
The bill signed late Wednesday reverses a decision made earlier this month by state regulators to repeal the ban under pressure from the U.S. Department of Justice.Consumer advocates and federal antitrust officials argued against the legislation. One way this law probably violates federal law: it interferes with and regulates interstate commerce, as many real estate transactions involve homes bought in Tennessee by buyers from other states. The U.S. constitution forbids states from regulating or interfering with interstate commerce. Why would Bredesen sign this? It is anti-competitive, anti-consumer and anti-freedom. Were full-fee realtors a big source of his 2006 campaign contributions? Posted in Tennessee Government News
Comments
I've (loosely) followed this legislation with disgust. I would imagine there are campaign contributions involved; it's unfathomable that it became law because somebody thought it would be good for the people of the state of Tennessee. We really need to hold the legislature accountable for the laws that they vote on, particularly those shills who pass a piece of legislation that benefits only their "paid sponsors" at the expense of everybody else in the state. Posted by: Michael Chaney at May 31, 2007 5:33 PMThere are ways of getting around that. Real estate agents already bestow gifts on buyers after closing. Mine brought me a porch swing, an expensive floral arrangement, and other stuff. Posted by: Donna Locke at June 1, 2007 10:38 PMPost a comment
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Tennessee Gov. Phil Bredesen has signed into law legislation that reinstates a ban on real estate agents offering cash rebates for home sales and other real estate transactions - even though such a ban likely violates federal law. The Tennessean reports: