As the pandemic hammers the economy, it could increase the chances of another mortgage collapse.
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The Big Story
Fri. May 15, 2020
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Whistleblower: Wall Street Has Engaged in Widespread Manipulation of Mortgage Funds
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Securities that contain loans for properties like hotels and office buildings have inflated profits, the whistleblower claims. As the pandemic hammers the economy, that could increase the chances of another mortgage collapse.
by Heather Vogell
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To lure Sears into a Chicago suburb, officials crafted the largest tax break package ever awarded to a company in Illinois. It resulted in revenue shortfalls, disappearing jobs and unexpected tax burdens, a Daily Herald and ProPublica review showed.
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Texas Gov. Greg Abbott Is Cracking Down on Cities’ Enforcement of COVID-19 Orders, but Many Already Took a Lax Approach
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Texas cities and counties have dramatically different interpretations of the state’s COVID-19 emergency orders. Complaint data from a dozen cities shows disparate approaches to enforcement, particularly among businesses, have been incredibly common.
by Sally Beauvais , Lexi Churchill , Kiah Collier , Vianna Davila and Ren Larson
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Richard Burr Steps Down From Chairmanship of Senate Intelligence Committee
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Burr’s resignation comes after the FBI seized his cellphone Wednesday. The Republican from North Carolina is being investigated for selling stock ahead of the market crash due to coronavirus fears.
by Robert Faturechi and Derek Willis
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The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. It Probably Won’t.
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by Justin Elliott , Lydia DePillis and Paul Kiel
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