Every year, about 2.3 million American renter households receive eviction papers at some point. During the COVID-19 pandemic, we might see that many evictions in one month. Global advisory firm Stout, with input from the National Coalition for a Civil Right to Counsel (NCCRC), used census survey results and income data to develop a new […]
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Trump Wants Short-Term Relief Bill to Extend Jobless Benefits, Halt Evictions…
President Trump and Secretary Steven T. Mnuchin said Wednesday they want to negotiate a short-term coronavirus relief bill with Democrats to prevent evictions and extend unemployment benefits that are due to expire on Friday. “We’re focused on those two things, we want to take care of them now,” Mr. Trump told reporters. “The rest we […]
Google, Apple and Amazon Are Leading a $30 Trillion Assault on Wall Street…
There’s a multi-trillion dollar trend completely upending Wall Street… With some of the biggest names in the business such as Amazon’s Jeff Bezos and the world’s largest asset manager, BlackRock jumping on board. And they’re not alone. Apple, Google, and even some of America’s leading automakers are completely shifting gears to accommodate investors’ demands to […]
Asset Forfeiture Run Amok: How in the World Could a County Treasurer Seize a Retiree’s Home over a Paltry $8.41 Tax Debt?…
Officials in one Michigan county are demanding answers from their treasurer amid concerns that the county could be on the hook for millions of dollars in payments to former homeowners whose properties were seized under a tough forfeiture practice. Oakland County commissioners sent an angry letter last week to Treasurer Andrew Meisner after the Michigan […]
Former Malaysian PM Guilty on All Counts in Sweeping 1MDB Corruption Case; Sentenced to 12 Years in Prison…
Days after Goldman Sachs agreed to fork over nearly $4 billion to the Malaysian government as penance for aiding and abetting the criminals who looted more than $4 billion from 1MDB (a sovereign wealth fund financed by several bond issues underwritten by Goldman Sachs), former Malaysian Prime Minister Najib Razak has been found guilty on […]
Goldman’s 1MDB Fiasco Nears End with $3.9 Billion Malaysia Pact…
Goldman Sachs Group Inc. has reached a $3.9 billion pact with Malaysia, marking a big step in the Wall Street giant’s efforts to resolve its worst scandal since the financial crisis. The settlement includes a payment of $2.5 billion to Malaysia to resolve probes into the U.S. bank’s role in a scheme to plunder the […]
China Floods Causing U.S. Agricultural Export Boom…
Despite U.S. agricultural exports to China falling one-third through May due to trade war retaliation, exports have surged above forecast due to the flooding of 433 rivers across China. The U.S. Department of Agriculture reported that pork, corn, wheat, cotton, rice, sorghum, and soybean exports to China from July 10 to 16 are trending above […]
Florida Man who Used COVID-Relief Funds to Purchase Lamborghini Sports Car Charged in Miami Federal Court..
A Florida man was arrested and charged with fraudulently obtaining $3.9 million in Paycheck Protection Program (PPP) loans and using those funds, in part, to purchase a sports car for himself. Authorities seized a $318,000 sports car and $3.4 million from bank accounts at the time of arrest. Acting Assistant Attorney General Brian C. Rabbitt […]
McConnell Unveils GOP HEALS Act Proposal with Targeted Round of Wuhan Virus Aid…
Senate Majority Leader Mitch McConnell announced Republicans will introduce a bill to provide a new round of coronavirus aid that would reduce an expansion of unemployment benefits and provide a new batch of stimulus checks, but to a smaller group than a prior round of help. “Senate Republicans have authored another bold framework to help […]
Related
Trump Signs 4 Executive Orders to Cut Cost of Drug Prices in U.S….
President Donald Trump signed four separate executive orders aimed at cutting the cost of prescription drugs in the U.S. on Friday, saying Americans aren’t getting a fair deal. The first order requires that community health centers pass on the “massive” discounts they have traditionally received on purchases of insulin and epipens to their customers. The […]
Dodd-Frank Is 10 Years Old Today and the Fed Is Back to Bailing Out Wall Street…
Today marks the 10th Anniversary of the enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act, named after its two sponsors, former Senator Christopher Dodd (D-CT) and former Congressman Barney Frank (D-MA). The massive piece of legislation was signed into law on July 21, 2010 by President Barack Obama at a time when […]
Mnuchin Confirms GOP Stimulus Plan to Include $1,200 Stimulus Checks…
A forthcoming Senate Republican stimulus proposal will mirror CARES Act that included a one-time $1,200 economic impact payment to some Americans, said a top White House official on Thursday. Treasury Secretary Steven Mnuchin was asked about the nature of the payments, saying it would be the same as the bill passed in March. “We’re talking […]
Appeals Court Upholds Groundskeeper’s Roundup Cancer Trial Win over Monsanto…
The Court of Appeal for the First Appellate District of California said Monday that Monsanto’s arguments were unpersuasive and Dewayne “Lee” Johnson was entitled to collect $10.25 million in compensatory damages and another $10.25 million in punitive damages. “In our view, Johnson presented abundant—and certainly substantial— evidence that glyphosate, together with the other ingredients in […]
Wall Street Firms Are Considering A Mass Exodus from New York…
Wall Street is about to see a mass exodus. Firms in New York’s financial district are facing an onslaught of headwinds amounting to great reasons to simply pick up and leave: employees working from home, unused office space, a mayor who has squelched law and order in the city and a state legislature obsessed with […]
Faulty Treasury Software Cost Labor Department $92M in Owed Debts…
This week, our award is going to the U.S. Department of Treasury for employing faulty software that led to $92 million in uncollected debts owed to the Department of Labor, as well as an undetermined amount owed to 12 other federal agencies. The debts owed to the Labor Department are comprised of close to 11,000 […]
The Fed Rides to the Rescue of JPMorgan and Citi Again – This Time It’s Their Commercial Real Estate Mortgages…
Quietly, on July 13, the New York Fed published a list of asset-backed loans that it had approved for eligibility in one of its emergency lending programs, the Term Asset-Backed Securities Loan Facility, otherwise known as TALF. The New York Fed stuck a smattering of small business loans and one student loan product on the […]
Bayer Investors Investigate Company’s Directors for Possible Securities Fraud over Roundup Cancer Cases…
The legal announcement on Monday from Pomerantz LLP called on investors to join a class action case that will investigate Bayer’s officers and/or directors. Hagens Berman has also urged investors in Bayer who suffered $1 million or more in losses to submit their losses now for evaluation by their legal team. They stated that a […]
Why Are U.S. Taxpayers Providing Public Pensions to Millionaire Members of Congress?…
Membership in the U.S. Congress is an exclusive club that comes with lucrative, taxpayer-funded privileges. Retirement perks include a lifetime pension and a taxpayer-matched savings plan with taxpayer-paid contributions of up to five percent of salary. As the longest-serving member of Congress, Sen. Patrick Leahy (D-VT) would qualify for a yearly pension of $167,040 if […]
(Shhh! Don’t Tell Wall Street that the Fed is Tightening.) Repo Loans Hit Zero; Fed Balance Sheet Shrinks by $248 Billion in a Month…
Beginning on September 17 of last year, months before the first COVID-19 case had been discovered anywhere in the world, the Federal Reserve – for the first time since the financial crisis of 2008 – jumped into the repo loan market, where financial firms borrow from each other overnight, and began making tens of billions […]
Millions in Wuhan Virus Relief Loans Went to Chinese Real Estate Company at Center of FBI Bribery Probe…
The Trump administration loaned between $4 million and $10 million in coronavirus relief funds to a real estate company whose chairman allegedly bribed a Los Angeles city councilman with nearly $260,000 in poker chips, escort services and $600,000 in payments to settle a sexual harassment lawsuit. Jose Huizar, the city councilman, was arrested on June […]
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