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HUD: Growth Of Homelessness During 2020 Was 'Devastating,' Even Before The Pandemic : NPR - 0 views

  • The nation's homeless population grew last year for the fourth year in a row. On a single night in January 2020, there were more than 580,000 individuals who were homeless in the United States, a 2% increase from the year before.The numbers, released by the Department of Housing and Urban Development Thursday, do not reflect the impact of the pandemic.
  • "And we know the pandemic has only made the homelessness crisis worse," HUD Secretary Marcia Fudge said
  • Among the report's more sobering findings: homelessness among veterans and families did not improve for the first time in many years.
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  • more than 106,000 children were homeless during the once-a-year count,
  • While the majority of homeless children were in shelters or transitional housing, almost 11,000 were living outside.
  • "I think it's tragic that we have increasing unsheltered numbers," said Nan Roman, president and CEO of the National Alliance to End Homelessness. "We know that unsheltered people have horrible health conditions."
  • Twenty-three percent of those who were homeless last year identified as Hispanic or Latino.
  • California was home to the largest number of people experiencing homelessness — 161,548 — according to the 2020 count. A quarter of all homeless individuals in the United States were living in either New York City or Los Angeles.
  • For the first time since the government began doing the annual count, the number of single adults living outside — 209,413 — exceeded the number of individuals living in shelters — 199,478.
  • As has been the case for years, a disproportionate share of those experiencing homelessness were Black
  • Some individuals have been worried about contracting COVID-19 staying inside, and many shelters have been forced to limit bed space to meet health and safety protocols. This has led to an increase in street homelessness in communities that were unable to provide alternative housing, although some have taken advantage of hotel space left empty during the pandemic.
  • Becky Gligo, executive director of Housing Solutions Tulsa, said her Oklahoma county raised money to move more than 400 unsheltered individuals into a hotel or other housing after a major storm hit the area this winter, leaving fewer than a dozen people on the streets.
  • John Mendez, executive director of Bethesda Cares, a service provider in Montgomery County, Md., said his group was able to permanently house some individuals who had lived outside for more than a decade
  • "I think we're going to see homelessness increase," said Sean Read,
  • Homelessness is "generally a delayed response" to economic setbacks,
  • Read and other providers are hopeful that billions of dollars in housing aid included in a recent $1.9 trillion COVID relief package will go a long way toward alleviating the crisis. The amount of aid is unprecedented. The bill provides $5 billion in homelessness assistance, more than $20 billion in emergency rental aid and $5 billion in new housing vouchers.
  • Roman, of the National Alliance to End Homelessness, noted that the measure also includes direct payments for families, which could keep many in their homes. She said some communities are also planning to use the funds to buy empty hotels that can be used to house more individuals, both temporarily and permanently.
aniyahbarnett

Evanston, Illinois, approves the country's first reparations program for Black resident... - 0 views

  • offering reparations to Black residents whose families have felt the effects of decades of discriminatory housing practices,
  • from a 3% tax on legalized cannabis into assistance for home loans.
  • We had to do something radically different to address the racial divide that we had in our city,
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  • the first major American bank to endorse HR 40, a piece of legislation sponsored by US Rep. Sheila Jackson Lee that creates a commission to develop reparation proposals for African Americans.
  • three decades ago.
  • "as real and right as the fight we had for the 1964 Civil Rights Act and the 1965 Voting Rights Act,
  • more attentive ears with Vice President Kamala Harris and President Joe Biden in office.
  • "targeted resources into public schools and neighborhoods that have been generationally deprived of the similar types of investments that white neighborhoods have gotten,"
  • voted overwhelmingly in favor of appropriating funds for the benefit of Black residents
  • "remains unanimously supportive"
  • she called upon National African-American Reparations Commission (NAARC) convener and Institute of the Black World 21st Century (IBW) President Ron Daniels to help Evanston develop an action plan.
  • "the community process"
  • The first is the transfer of wealth to descendants of American slavery via individual cash payments,
  • I've never seen the issue of reparations being taken as seriously as it is now,"
  • , I think the process has been quite flawed when you look at it next to an HR 40
  • , there are some Black residents in Evanston who question if these policies go far enough,
  • "the strict enforcement of existing civil rights law."
  • They fear the limited funds will result in an application process that only high-credit Evanstonians would have access to.
  • "Modernity is our challenge, not social justice"
  • The City Council agrees with that
  • HR 40 was still very much in its infancy,
  • it was designed to establish a commission to examine enslavement and other derivative outcomes
  • It did, however, gain the endorsement of major civil rights organizations
  • Congress was not ready for the bill.
  • Black celebrities
  • In the over three decades since HR 40 reached the House floor, the case for reparations has only grown more organized and action-oriented. Today, the bill has more than 170 co-sponsors and a Senate companion resolution.
  • So it's really an attempt to address both the moral harm, and the crime that slavery and Jim Crow were, but also the wealth gap that was created by both of these institutions,"
  • In the wake of the Black Lives Matter movement's resurgence last year,
  • Breonna Taylor, George Floyd, and Ahmaud Arbery,
  • cultural experts and the executive branch of government that America has reneged on its promises to African Americans
  • "I think the reality is that we will as Black Americans never gain an entitlement that is commensurate with the suffering we endured.
  • "is that Black Americans will get about exactly as far as they take themselves,
  • However, Simmons sees the critique as an opportunity for more conversations on what reparations could look like for residents
  • Over a century of both legally enforced and de-facto housing discrimination and redlining, blockage from small business loans, and suppression of constitutionally protected civil rights until well into the 1960s
  • n 1920 to roughly 1.3% of US farmers in 2017.
  • history was not studied, it was not known.
yehbru

Opinion: Mike Pence knows the truth about Trump, but will he tell all? - CNN - 0 views

  • He set the tone at the first full cabinet meeting in 2017, when he kicked off the infamous, 11-minute, roundtable praise-fest for Trump by saying, "It is the greatest privilege of my life to serve as the vice president to a president who is keeping his word to the American people." After each cabinet member took turns lavishing praise on the president, Glenn Thrush of The New York Times called it "the most exquisitely awkward public event I've ever seen."
  • But the relationship between Pence and Trump all but disintegrated on January 6, 2021, when insurrectionists who believed Trump's lie that the 2020 election had been "stolen" broke into and overran the US Capitol.
  • And while Trump was aware Pence had been evacuated to a secure location during the attack, the former president never attempted to contact him directly.
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  • On the day his book deal was made public, Pence launched a political advocacy group called Advancing American Freedom, which touts the "successful conservative policies of the Trump-Pence administration" and champions "Conservative values and policy proposals," which the organization's website claims are under attack.
  • But will Pence -- who may have presidential ambitions of his own -- offer a modicum of truth and express his true feelings about the president who jeopardized his life?
  • If he is indeed keen on winning them over, however, it's likely he will produce a book that will disappoint a publisher interested in the kind of honest account that would draw in enough readers to justify a big advance payment.
Javier E

Opinion | White Riot - The New York Times - 0 views

  • how important is the frustration among what pollsters call non-college white men at not being able to compete with those higher up on the socioeconomic ladder because of educational disadvantage?
  • How critical is declining value in marriage — or mating — markets?
  • How toxic is the combination of pessimism and anger that stems from a deterioration in standing and authority? What might engender existential despair, this sense of irretrievable loss?
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  • How hard is it for any group, whether it is racial, political or ethnic, to come to terms with losing power and status? What encourages desperate behavior and a willingness to believe a pack of lies?
  • I posed these questions to a wide range of experts. This column explores their replies.
  • The population of U.S. Citizens who’ve lost the most power in the past 40 years, who aren’t competing well to get into college or get high paying jobs, whose marital prospects have dimmed, and who are outraged, are those I believe were most likely to be in on the attack.
  • White supremacy and frank racism are prime motivators, and they combined with other elements to fuel the insurrection: a groundswell of anger directed specifically at elites and an addictive lust for revenge against those they see as the agents of their disempowerment.
  • It is this admixture of factors that makes the insurgency that wrested control of the House and Senate so dangerous — and is likely to spark new forms of violence in the future.
  • While most acute among those possessing high status and power, Anderson said,People in general are sensitive to status threats and to any potential losses of social standing, and they respond to those threats with stress, anxiety, anger, and sometimes even violence
  • The terrorist attacks on 9/11, the Weatherman bombings in protest of the Vietnam War, ethnic cleansing in Bosnia, or the assassination of abortion providers, may be motivated by different ideological beliefs but nonetheless share a common theme: The people who did these things appear to be motivated by strong moral conviction. Although some argue that engaging in behaviors like these requires moral disengagement, we find instead that they require maximum moral engagement and justification.
  • “lower class individuals experience greater vigilance to threat, relative to high status individuals, leading them to perceive greater hostility in their environment.”
  • This increased vigilance, Brinke and Keltner continue, createsa bias such that relatively low socio-economic status individuals perceive the powerful as dominant and threatening — endorsing a coercive theory of power
  • There is evidence that many non-college white Americans who have been undergoing what psychiatrists call “involuntary subordination” or “involuntary defeat” both resent and mourn their loss of centrality and what they perceive as their growing invisibility.
  • Before Trump, many of those who became his supporters suffered from what Carol Graham, a senior fellow at Brookings, describes as pervasive “unhappiness, stress and lack of hope” without a narrative to legitimate their condition:
  • When the jobs went away, families fell apart. There was no narrative other than the classic American dream that everyone who works hard can get ahead, and the implicit correlate was that those who fall behind and are on welfare are losers, lazy, and often minorities.
  • What, however, could prompt a mob — including not only members of the Proud Boys and the Boogaloo Bois but also many seemingly ordinary Americans drawn to Trump — to break into the Capitol?
  • One possible answer: a mutated form of moral certitude based on the belief that one’s decline in social and economic status is the result of unfair, if not corrupt, decisions by others, especially by so-called elites.
  • there is evidence that individuals of lower social class are more cynical than those occupying higher classes, and that this cynicism is directed toward out-group members — that is, those that occupy higher classes.
  • violence is:considered to be the essence of evil. It is the prototype of immorality. But an examination of violent acts and practices across cultures and throughout history shows just the opposite. When people hurt or kill someone, they usually do it because they feel they ought to: they feel that it is morally right or even obligatory to be violent.
  • “Most violence,” Fiske and Rai contend, “is morally motivated.”
  • A key factor working in concert to aggravate the anomie and disgruntlement in many members of Trump’s white working-class base is their inability to obtain a college education, a limitation that blocks access to higher paying jobs and lowers their supposed “value” in marriage markets.
  • A major development since the end of the “Great Compression” of the 30 years or so after World War II, when there was less inequality and relatively greater job security, at least for white male workers, is that the differential rate of return on education and training is now much higher.
  • there isvery consistent and compelling evidence to suggest the some of what we have witnessed this past week is a reflection of the angst, anger, and refusal to accept an “America”’ in which White (Christian) Americans are losing dominance, be it political, material, and/or cultural. And, I use the term dominance here, because it is not simply a loss of status. It is a loss of power. A more racially, ethnically, religiously diverse US that is also a democracy requires White Americans to acquiesce to the interests and concerns of racial/ethnic and religious minorities.
  • In this new world, Federico argues, “promises of broad-based economic security” were replaced by a job market whereyou can have dignity, but it must be earned through market or entrepreneurial success (as the Reagan/Thatcher center-right would have it) or the meritocratic attainment of professional status (as the center-left would have it). But obviously, these are not avenues available to all, simply because society has only so many positions for captains of industry and educated professionals.
  • The result, Federico notes, is that “group consciousness is likely to emerge on the basis of education and training” and when “those with less education see themselves as being culturally very different from an educated stratum of the population that is more socially liberal and cosmopolitan, then the sense of group conflict is deepened.”
  • In their paper “Trends in Educational Assortative Marriage From 1940 to 2003,” Christine R. Schwartz and Robert D. Mare, professors of sociology at the University of Wisconsin and the University of California-Los Angeles, wrote that the “most striking” data in their research, “is the decline in odds that those with very low levels of education marry up.”
  • Trump, Richeson continued,leaned into the underlying White nationalist sentiments that had been on the fringe in his campaign for the presidency and made his campaign about re-centering Whiteness as what it actually means to be American and, by implication, delegitimizing claims for greater racial equity, be it in policing or any other important domain of American life.
  • Whites in the last 60 years have seen minoritized folks gain more political power, economic and educational opportunity. Even though these gains are grossly exaggerated, Whites experience them as a loss in group status.
  • all the rights revolutions — civil rights, women’s rights, gay rights — have been key to the emergence of the contemporary right wing:As the voices of women, people of color, and other traditionally marginalized communities grow louder the frame of reference from which we tell the story of American is expanding
  • The white male story is not irrelevant but it’s insufficient, and when you have a group of people that are accustomed to the spotlight see the camera lens pan away, it’s a threat to their sense of self. It’s not surprising that QAnon support started to soar in the weeks after B.L.M. QAnon offers a way for white evangelicals to place blame on (fictional) bad people instead of a broken system. It’s an organization that validates the source of Q-Anoners insecurity — irrelevance — and in its place offers a steady source of self-righteousness and acceptance.
  • “compared to other advanced countries caught up in the transition to knowledge society, the United States appears to be in a much more vulnerable position to a strong right-wing populist challenge.”
  • First, Kitschelt noted,The difference between economic winners and losers, captured by income inequality, poverty, and illiteracy rates within the dominant white ethnicity, is much greater than in most other Western countries, and there is no dense welfare state safety net to buffer the fall of people into unemployment and poverty.
  • Another key factor, Kitschelt pointed out, is thatThe decline of male status in the family is more sharply articulated than in Europe, hastened in the U.S. by economic inequality (men fall further under changing economic circumstances) and religiosity (leading to pockets of greater male resistance to the redefinition of gender roles).
  • More religious and less well-educated whites see Donald Trump as one of their own despite his being so obviously a child of privilege. He defends America as a Christian nation. He defends English as our national language. He is unashamed in stating that the loyalty of any government should be to its own citizens — both in terms of how we should deal with noncitizens here and how our foreign policy should be based on the doctrine of “America First.”
  • nlike most European countries, Kitschelt wrote,The United States had a civil war over slavery in the 19th century and a continuous history of structural racism and white oligarchical rule until the 1960s, and in many aspects until the present. Europe lacks this legacy.
  • for the moment the nation faces, for all intents and purposes, the makings of a civil insurgency. What makes this insurgency unusual in American history is that it is based on Trump’s false claim that he, not Joe Biden, won the presidency, that the election was stolen by malefactors in both parties, and that majorities in both branches of Congress no longer represent the true will of the people.
  • We would not have Trump as president if the Democrats had remained the party of the working class. The decline of labor unions proceeded at the same rate when Democrats were president as when Republicans were president; the same is, I believe, true of loss of manufacturing jobs as plants moved overseas.
  • President Obama, Grofman wrote,responded to the housing crisis with bailouts of the lenders and interlinked financial institutions, not of the folks losing their homes. And the stagnation of wages and income for the middle and bottom of the income distribution continued under Obama. And the various Covid aid packages, while they include payments to the unemployed, are also helping big businesses more than the small businesses that have been and will be permanently going out of business due to the lockdowns (and they include various forms of pork.
  • “white less well-educated voters didn’t desert the Democratic Party, the Democratic Party deserted them.”
  • On top of that, in the United States.Many lines of conflict mutually reinforce each other rather than crosscut: Less educated whites tend to be more Evangelical and more racist, and they live in geographical spaces with less economic momentum.
  • He speaks in a language that ordinary people can understand. He makes fun of the elites who look down on his supporters as a “basket of deplorables” and who think it is a good idea to defund the police who protect them and to prioritize snail darters over jobs. He appoints judges and justices who are true conservatives. He believes more in gun rights than in gay rights. He rejects political correctness and the language-police and woke ideology as un-American. And he promises to reclaim the jobs that previous presidents (of both parties) allowed to be shipped abroad. In sum, he offers a relatively coherent set of beliefs and policies that are attractive to many voters and which he has been better at seeing implemented than any previous Republican president.
  • What Trump supporters who rioted in D.C. share are the beliefs that Trump is their hero, regardless of his flaws, and that defeating Democrats is a holy war to be waged by any means necessary.
  • In the end, Grofman said,Trying to explain the violence on the Hill by only talking about what the demonstrators believe is to miss the point. They are guilty, but they wouldn’t be there were it not for the Republican politicians and the Republican attorneys general, and most of all the president, who cynically exaggerate and lie and create fake conspiracy theories and demonize the opposition. It is the enablers of the mob who truly deserve the blame and the shame.
hannahcarter11

Third bank cuts ties with Trump after Capitol riot | TheHill - 0 views

  • A third bank declared its plans to cut ties with President TrumpDonald TrumpGrowing number of GOP lawmakers say they support impeachment YouTube temporarily bars uploading of new content on Trump's channel House passes measure calling on Pence to remove Trump MORE and the Trump Organization on Tuesday in the aftermath of the raid on the Capitol last week.
  • Florida-based Professional Bank, which once provided Trump with an $11 million mortgage, announced that it won’t conduct future business with the president or his organization.
  • The Florida bank represents the third bank to end its relationship with Trump and the Trump Organization after a pro-Trump mob breached and vandalized the Capitol building last week in an attempt to disrupt Congress’s certification of President-elect Joe BidenJoe BidenGrowing number of GOP lawmakers say they support impeachment House passes measure calling on Pence to remove Trump Disney, Walmart say they will block donations to lawmakers who objected to Electoral College results MORE’s Electoral College win.
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  • The New York-based Signature Bank announced that it would close down Trump’s personal accounts that have about $5.3 million due to the “displeasure and shock” management experienced following the Capitol riots. 
  • Earlier this week, Bloomberg News reported that Deutsche Bank would not conduct future business with Trump or his company besides monitoring the payment of existing loans amounting to more than $300 million. 
  • The deadly riots resulted in at least five deaths, including a Capitol Police officer and a woman shot by a plain clothes Capitol Police officer.
  • The New York bank also called on the president to resign and said it would not make future agreements with lawmakers who contested the Electoral College results after the riots.
  • “We witnessed the President of the United States encouraging the rioters and refraining from calling in the National Guard to protect the Congress in its performance of duty,” the statement continued.
  • Eric TrumpEric TrumpLet's make Wednesday, Jan. 6, 2021 the day Trumpism died Ivanka Trump urges 'patriots' storming Capitol to 'stop immediately' in now-deleted tweet Eric Trump warns of primary challenges for Republicans who don't object to election results MORE, one of the president’s sons put in charge of day-to-day operations of the Trump Organization, told The Associated Press that banks and other companies ending their relationship with the business after the riots exemplifies a liberal “cancel culture.”
  • “If you disagree with them, if they don’t like you, they try and cancel you.”
  • Several companies, in addition to the banks, have distanced themselves from the president after last week’s events, including Shopify, which took down trumpstore.com, and PGA of America, which moved a 2022 championship away from Trump property.
  • New York City declared on Wednesday that it would end contracts with the Trump Organization to run attractions in the city’s park, with Mayor Bill de BlasioBill de BlasioRepublican Staten Island candidate apologizes for Hitler reference New York City considering ending business contracts with Trump Columnist Ross Barkan discusses the slow vaccination process in the state of New York MORE (D) saying, “New York City doesn’t do business with insurrectionists.”
saberal

After Second Impeachment, Giuliani Vows to Support Trump - The New York Times - 0 views

  • When Rudolph W. Giuliani was treating his efforts to carry out President Trump’s wishes to overturn the results of the 2020 presidential election as a payment opportunity — he proposed a daily retainer of $20,000 for his legal services from the burgeoning Trump campaign legal fund — the president dismissed it and responded by demanding to personally approve each expense.
  • Even as he complains about Mr. Giuliani’s latest efforts as fruitless, the president remains unusually deferential to him in public and in private. “Don’t underestimate him,” Mr. Trump has told advisers.
  • But only up to a point. While Mr. Trump and his advisers balked at the $20,000 request weeks ago, it is unclear whether the president will sign off on Mr. Giuliani being paid anything other than expenses.
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  • Few people have had such durability with the president, and few have been so willing to say and do things for him that others will not.
  • “I don’t mind being shut down for my craziness,” Mr. Bannon told Mr. Giuliani, according to Alexander Panetta, a reporter for CBC News who listened to the podcast before it was removed. “I’m not going to be shut down for yours.”
  • In return, Mr. Giuliani, who failed at his own bid for the presidency in 2008, got to hang out with the president in the Oval Office and used his new connections to pursue lucrative contracts.
  • Mr. Giuliani stepped into the president’s legal affairs in April 2018. His eagerness to attack Robert S. Mueller III, the special counsel, impressed Mr. Trump, who was constantly making changes to his legal team. Most Trump advisers came to see Mr. Giuliani’s efforts with Mr. Mueller as a success.
  • Mr. Giuliani’s own legal problems have mounted alongside those of the president. As Mr. Giuliani pursued separate business opportunities in Ukraine, intelligence agencies warned that he could have been used by Russian intelligence officers seeking to spread disinformation about the election — reports that Mr. Trump shrugged off. Mr. Giuliani’s work in Ukraine continues to be a matter of interest in a continuing investigation by federal prosecutors in New York.
  • In a 37-minute video published Wednesday evening, Mr. Giuliani tried to rewrite the history of the Capitol riot. Although Mr. Trump incited his supporters to march to the building and “show strength,” Mr. Giuliani suggested in the video that antifa activists had been involved, a repeatedly debunked theory that has proliferated in pro-Trump circles online.“The rally ended up to some extent being used as a fulcrum in order to create something else totally different that the president had nothing to do with,” Mr. Giuliani said.
  • “He’s not alone,” Alan Marcus, a former Trump Organization consultant, said of the president. “He’s abandoned. Rudy’s just the last in a whole group of people.”
anonymous

Transcript: Kamala Harris On U.S. Capitol Attack And Stimulus : Biden Transition Update... - 0 views

  • On Wednesday, Kamala Harris will become the first woman, and the first woman of color, to serve as vice president of the United States.Twelve years ago, hundreds of thousands of people filled the National Mall to watch Barack Obama make history as the nation's first Black president.But when Harris takes the oath, the mall will very likely be nearly empty.
  • A surging pandemic had already led President-elect Joe Biden and Harris to urge supporters to watch the inauguration from home. Now, after a deadly siege of the U.S. Capitol by supporters of President Trump, thousands of National Guard members have been deployed to protect the transfer of power against more violence. The brazen attempt to block Congress from certifying Biden and Harris' November election victory was unprecedented. But for Harris, the undercurrents of hate and racism it represented were not.
  • Why is it so important to you to stick with the planned ceremony and take the oath outside?I think that we cannot yield to those who would try and make us afraid of who we are.
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  • Like Biden, Harris is determined to take the oath of office outside, on the West Front of the U.S. Capitol, despite security concerns that have led to the garrison of soldiers inside the building for the first time since the Civil War.
  • And, like Biden, Harris is equally determined to move forward with an ambitious legislative agenda despite the fact that the early weeks of their administration will likely also see a second Senate impeachment trial of Trump.
  • Harris spoke to NPR on the day Biden unveiled a $1.9 trillion rescue package that would expand unemployment benefits, issue another round of direct stimulus payments, spend billions on coronavirus vaccination and testing efforts, and raise the federal minimum wage to $15, among many other provisions.
  • I want to start with last week with the Capitol attack. You were in Washington, D.C. What was that day like from your vantage point?It was horrific. It was a day that wherein we witnessed an assault on America's democracy, a day when we witnessed the terror that a few can wreak on so many.
  • "It was the same thing that went through my mind when I saw Charlottesville. I mean, it's the same thing that went through my mind when I saw a picture of Emmett Till," Harris told NPR
  • Ticking through some of the details — $20 billion for vaccinations, $50 billion for expanded testing, $130 billion for schools to reopen safely. If this is passed and signed into law, how quickly can Americans expect to see life to return to normal?Let me be very clear that the president-elect and I know this is not going to be easy, but we are putting everything we've got into this, and to deal with it as soon as possible, which is why we're prepared right now to, on day one, push through and get this package, so that it hits the ground and hits the streets and we get relief to the American people.
  • How quickly can this get passed? Democrats have the narrowest of narrow majorities in both chambers.Well, let me tell you, it's our highest priority. It is our highest priority.
  • But there is going to be so much else going on, including now a Senate impeachment trial. So you have not only this bill, you have to confirm the Cabinet through the Senate. There is an impeachment trial. How does that affect everything you're trying to do beyond legislation and confirmations?
  • We know how to multitask [laughs]. There's a reason that word exists in the English language. That's what's going to be required. We have to multitask, which means, as with anyone, we have a lot of priorities and we need to see them through.
  • This proposal has billions of dollars to fund vaccine distribution, but it's not just funding. There are distribution problems, information sharing problems. There are trust problems, supply problems. What can the federal government do immediately in the coming weeks to start to fix these?Well, part of it is pass our plan because we are, for example, putting $50 billion into increased testing and tracing, as you mentioned earlier. We need to increase the supply of PPE.
  • This is a major stimulus package coming through. Are you going to be a point person in getting it passed or in any of these areas once it starts going to effect, if he does sign it into law?Let me tell you something, on every decision that we have made as an incoming administration, we're in the room together, Joe and I, the president-elect and I. And on every, you know, I can't even tell you how many meetings we've been in together that range from this to many other topics that are priorities for us. And so all of the priorities are going to be a priority for me and for the president-elect, obviously.
xaviermcelderry

Biden Seeks Quick Start With Executive Actions and Aggressive Legislation - The New Yor... - 0 views

  • On his first day in office alone, Mr. Biden intends a flurry of executive orders that will be partly substantive and partly symbolic. They include rescinding the travel ban on several predominantly Muslim countries, rejoining the Paris climate change accord, extending pandemic-related limits on evictions and student loan payments, issuing a mask mandate for federal property and interstate travel and ordering agencies to figure out how to reunite children separated from families after crossing the border, according to a memo circulated on Saturday by Ron Klain, his incoming White House chief of staff, and obtained by The New York Times.
  • He also plans to send sweeping immigration legislation on his first day in office providing a pathway to citizenship for 11 million people in the country illegally.
  • Along with his promise to vaccinate 100 million Americans for the coronavirus in his first 100 days, it is an expansive set of priorities for a new president that could be a defining test of his deal-making abilities and command of the federal government.
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  • Mr. Biden will be the first true creature of Capitol Hill to occupy the White House since President Gerald R. Ford in the 1970s. More than recent predecessors, he understands how other politicians think and what drives them. But his confidence that he can make deals with Republicans is born of an era when bipartisan cooperation was valued rather than scorned and he may find that today’s Washington has become so tribal that the old ways no longer apply.
leilamulveny

Prospect of Pardons in Final Days Fuels Market to Buy Access to Trump - The New York Times - 0 views

  • The brisk market for pardons reflects the access peddling that has defined Mr. Trump’s presidency as well as his unorthodox approach to exercising unchecked presidential clemency powers. Pardons and commutations are intended to show mercy to deserving recipients, but Mr. Trump has used many of them to reward personal or political allies.
  • Brett Tolman, a former federal prosecutor who has been advising the White House on pardons and commutations, has monetized his clemency work, collecting tens of thousands of dollars, and possibly more, in recent weeks to lobby the White House for clemency for the son of a former Arkansas senator; the founder of the notorious online drug marketplace Silk Road; and a Manhattan socialite who pleaded guilty in a fraud scheme.
  • Mr. Trump’s former personal lawyer John M. Dowd has marketed himself to convicted felons as someone who could secure pardons because of his close relationship with the president, accepting tens of thousands of dollars from a wealthy felon and advising him and other potential clients to leverage Mr. Trump’s grievances about the justice system.
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  • After Mr. Trump’s impeachment for inciting his supporters before the deadly riot at the Capitol, and with Republican leaders turning on him, the pardon power remains one of the last and most likely outlets for quick unilateral action by an increasingly isolated, erratic president.
  • He has also discussed issuing pre-emptive pardons to his children, his son-in-law and senior adviser, Jared Kushner, and Mr. Giuliani.
  • He has paid Mr. Tolman at least $10,000 since late last year to lobby the White House and Congress for a pardon for his son Jeremy Hutchinson, a former Arkansas state lawmaker who pleaded guilty in 2019 to accepting bribes and tax fraud, according to a lobbying disclosure filed this month.
  • That system favors pardon seekers who have connections to Mr. Trump or his team, or who pay someone who does, said pardon lawyers who have worked for years through the Justice Department system.
  • . Any explicit offers of payment to the president in return could be investigated as possible violations of bribery laws; no evidence has emerged that Mr. Trump was offered money in exchange for a pardon.
  • “The criminal justice system is badly broken, badly flawed,” said the former senator, Tim Hutchinson, a Republican who served in Congress from 1993 to 2003.
  • “This kind of off-books influence peddling, special-privilege system denies consideration to the hundreds of ordinary people who have obediently lined up as required by Justice Department rules, and is a basic violation of the longstanding effort to make this process at least look fair,” said Margaret Love, who ran the Justice Department’s clemency process from 1990 until 1997 as the United States pardon attorney.
  • A filing this month revealed that Mr. Tolman was paid $22,500 by an Arizona man named Brian Anderson who had retained him in September to seek clemency for Ross Ulbricht, the Silk Road founder. Mr. Ulbricht was sentenced to life in prison in 2015 for engaging in a continuing criminal enterprise and distributing narcotics on the internet.
  • The former Trump campaign adviser, Karen Giorno, also had access to people around the president, having run Mr. Trump’s campaign in Florida during the 2016 primary and remaining on board as a senior political adviser during the general election.
  • Though the name was never publicly disclosed, Mr. Kiriakou was sentenced to 30 months in prison. In the meeting, at the Washington office of his lawyer, Mr. Kiriakou said he had been wronged by the government and was seeking a pardon so he could carry a handgun and receive his pension.
  • In July 2018, Ms. Giorno signed an agreement with Mr. Kiriakou, a copy of which was obtained by The New York Times, “to seek a full pardon from President Donald Trump of his conviction” for $50,000 and promised another $50,000 as a bonus if she secured a pardon.
mariedhorne

Yellen Calls for More Aid to Avoid Longer, More Painful Recession - WSJ - 0 views

  • “Economists don’t always agree, but I think there is a consensus now: Without further action, we risk a longer, more painful recession now—and long-term scarring of the economy later,” Ms. Yellen will say. “Over the next few months, we are going to need more aid to distribute the vaccine; to reopen schools; to help states keep firefighters and teachers on the job.”
  • Mr. Biden’s $1.9 trillion coronavirus relief package, unveiled last week, provides for another round of direct stimulus payments, extended and enhanced jobless benefits, funding for schools and first responders and the creation of a nationwide vaccination program. It also includes longstanding Democratic priorities, such as raising the federal minimum wage to $15 an hour and expanding paid leave for workers.
  • which at $21.6 trillion exceeds the annual output of the U.S. economy.
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  • The hearing comes at a time of growing uncertainty over the progress of the pandemic, which has killed close to 400,000 people in the U.S.,
mariedhorne

Yellen Calls for More Aid to Avoid Longer, More Painful Recession - WSJ - 0 views

  • Janet Yellen, President-elect Joe Biden’s choice for Treasury secretary, plans to tell lawmakers that the U.S. risks a longer, more painful recession unless Congress approves more aid and urge them to “act big” to shore up the recovery.
  • “Economists don’t always agree, but I think there is a consensus now: Without further action, we risk a longer, more painful recession now—and long-term scarring of the economy later,” Ms. Yellen will say. “Over the next few months, we are going to need more aid to distribute the vaccine; to reopen schools; to help states keep firefighters and teachers on the job.”
  • Mr. Biden’s $1.9 trillion coronavirus relief package, unveiled last week, provides for another round of direct stimulus payments, extended and enhanced jobless benefits, funding for schools and first responders and the creation of a nationwide vaccination program. It also includes longstanding Democratic priorities, such as raising the federal minimum wage to $15 an hour and expanding paid leave for workers.
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  • The hearing comes at a time of growing uncertainty over the progress of the pandemic, which has killed close to 400,000 people in the U.S., as well as the state of the economy. Retail sales fell for the third straight month in December and employers cut jobs, ending seven months of employment gains.
  • Mr. Mnuchin said he couldn’t extend them beyond their Dec. 31 expiration, drawing criticism from Democrats who accused him of trying to hamstring the incoming administration.
  • Democrats and Republicans might press her on whether the Treasury would incorporate climate change into the broader financial regulatory framework, and whether she sees a more active role for the FSOC in the Biden administration.
woodlu

Peril ahead - Donald Trump faces an array of legal trouble when he leaves office | Unit... - 0 views

  • Armchair psychiatrists claim that Mr Trump’s lifelong fear of being seen as a loser has inspired his battle against democracy.
  • at the stroke of noon on January 20th, the legal shield that Mr Trump has wielded to stave off lawsuits will vanish, exposing him to an abundance of civil and criminal legal peril.
  • Manhattan district attorney, Cyrus Vance, has been investigating several possible financial crimes, including Mr Trump’s alleged hush-money pay-offs to an adult-film star and a Playboy model on the eve of the 2016 election
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  • his old boss directed him to pay these women, Stormy Daniels and Karen McDougal, to prevent revelations of extramarital dalliances that could have dented his presidential run. (Mr Trump denies these allegations.)
  • Mr Vance subpoenaed eight years of financial records and tax documents from Mazars USA, Mr Trump’s accountant.
  • the Supreme Court proceeded to sit on a final appeal for three months, staying mum and keeping the documents out of the district attorney’s hands.
  • The ramifications could be serious for Mr Trump as he reprises his role as private citizen: Mr Vance’s office has suggested the investigation may range significantly more broadly than just pay-offs.
  • Potential charges, if evidence is found, could include scheming to defraud, falsification of business records, insurance fraud and criminal tax fraud
  • penalties of up to 25 years.
  • Mr Trump fought assiduously to keep his finances under wraps and soon they may be scrutinised by a grand jury.
  • New York’s attorney-general, Letitia James, is investigating what she says may be fraudulent business practices in which Mr Trump and the Trump Organisation inflated the value of their assets when applying for loans and deflated them to evade tax liability.
  • Ms Carroll wrote in 2019 that Mr Trump raped her in the dressing room of a Manhattan department store; Ms Zervos said he sexually harassed her on set
  • Moments after his second impeachment on January 13th, Ms Carroll tweeted: “Trump tore our democracy. I'm going to tear him to shreds in court.”
  • Mr Racine says some members of the Trump family made a sweet deal with themselves when the inaugural committee—a tax-exempt charity—used non-profit funds to pay the Trump International Hotel $175,000 a day to host events during the 2017 inauguration.
  • a violation of District of Columbia law governing the operation of non-profit organisations.
  • that the non-profit footed the bill for a $49,000 payment that should have been issued by the Trump Organisation, a for-profit business.
  • Persuading someone to use “physical force against the person or property of another” is a federal crime; sparking a riot is a crime under DC law.
  • Given the broad scope for free speech set by the First Amendment, however, it may be hard to make criminal charges stick.
  • whether Mr Trump is guilty of inciting a specific lawless action, as opposed to just general exhortation.
  • Mr Trump could also find himself in legal jeopardy for the hour-long phone call he made to Georgia’s secretary of state on January 2nd.
  • has asked the Department of Justice and Georgia prosecutors to investigate Mr Trump’s bid to find nearly 12,000 votes to swing the election to him some three weeks after the electoral college voted
  • the president may have “illegally conspired to deprive the people of Georgia of their right to vote” and “to intimidate Georgia election officials in an effort to falsify the count of votes in the presidential election”.
  • Mr Trump’s phone call in July 2019 asking Ukraine's president to dig up dirt on Hunter Biden, the son of his eventual rival.
  • it could constitute extortion and criminal conspiracy under New York law.
  • Mr Trump may be tempted to issue himself a presidential pardon.
  • No president has ever attempted such legal onanism, though Richard Nixon contemplated it in 1974
  • Counsel in the Justice Department said it would be out of line with the principle that “no one may be a judge in his own case”
  • A self-pardon may run counter to Mr Trump’s instincts, as it would require him to confess to potential misdeeds.
  • The strategy may also backfire if the courts conclude self-pardons are unconstitutional
Javier E

Opinion | We were right to worry about the nation's fiscal future. But I know when to f... - 0 views

  • I’m throwing in the towel: Regarding our national fiscal future, as the man said, you’ve got to know when to fold ’em.
  • it’s time to face the unpleasant facts. The past decade demonstrates amply that our political process is not capable of the kind of decisions that are necessary
  • The temptation to savage anyone proposing safety-net reform (the sine qua non of any serious fiscal rescue, really the only issue that matters) remains electorally irresistible and invariably effective.
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  • the inexorable arithmetic of dollars times demography has taken us past the point of no return. It’s no longer possible to say that, by starting now, we can avert massive, and massively unfair, changes in the promises we have made, or that current beneficiaries have nothing to worry about.
  • There are parallels with other long-term, nation-threatening challenges of our time
  • there is zero chance of delivering on the promises already in place, let alone the fresh, astonishing proposals in Washington to make these commitments even larger.
  • If the climate change computer models prove accurate, it is already too late to prevent the world’s thermometer from rising to levels deemed unacceptable.
  • While calling on us to take what preventive measures we can, the more serious leaders on these topics are hard at work on the goals of mitigation and adaptation.
  • owever likely the climate problem or next pandemic is, the unraveling of the safety net is far more so.
  • We should have seen the pandemic coming and prepared for it.
  • A start on mitigation would be for the Social Security Administration to begin including in beneficiary bulletins a disclosure that, starting soon, the system cannot fulfill all of its commitments
  • Something similar could be done for doctors and medical students, projecting the deep cuts in reimbursement rates to which Medicare will resort.
  • Allowing the fiction of full-payment-for-all to persist will only add the rage of betrayal to the hardships imposed by the now-inevitable sudden cuts in benefits and huge tax increases.
saberal

Stimulus Update: Democrats Press Ahead as Biden Signals Openness to Changes - The New Y... - 0 views

  • The House passed a budget blueprint to allow the president’s $1.9 trillion plan to speed through Congress without Republican backing. But President Biden said he was open to negotiating the details.
  • Voting mostly along party lines, the House adopted a budget blueprint that included President Biden’s sweeping pandemic aid plan, laying the groundwork for Democrats to push it through, if necessary, on a simple majority vote, without Republican support.
  • “We need to act fast,” Mr. Biden told House Democrats on a private conference call, according to two people who attended. “It’s about who the hell we are as a country.”But Republicans expressed increasing skepticism that they could support the measure unless Mr. Biden significantly scaled back his proposal.
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  • “there’s a real sense that there’s real consequences of going small, there’s real consequences of allowing stalling”
  • As for the $15 minimum wage included in Mr. Biden’s plan, Mr. Romney said flatly, “That’s not going to get passed.”
  • the president met for an hour and a half at the White House with leading Senate Democrats. Senator Chuck Schumer of New York, the majority leader, emerged from the meeting, saying there was “universal agreement we must go big and bold.”
  • The president’s signal that he was open to compromise on the matter came a couple of days after he met at the White House with 10 Republican senators who are seeking a $618 billion package they said could win bipartisan backing. Their proposal calls for checks of up to $1,000 that would go only to individuals earning less than $50,000 a year, with the full payment limited to those whose annual income was $40,000 or below.
  • “We can’t walk away from an additional $1,400 in direct checks, because people need it,” Mr. Biden told the House Democrats,
  • Democrats engaged in the discussions said there was some pressure from Republicans and more conservative Democrats to scale back other parts of the package, possibly including money for state and local governments and supplemental benefits for the unemployed. Mr. Wyden said he was fighting to maintain the additional $400-per-week benefit that Mr. Biden has proposed offering to unemployed workers through the end of September, up from $300 now but down from $600 at the start of the crisis.
Javier E

Former Twitter employees charged with spying for Saudi Arabia by digging into the accou... - 0 views

  • The Justice Department has charged two former Twitter employees with spying for Saudi Arabia in a case that raises concerns about the ability of Silicon Valley to protect the private information of dissidents and other users from repressive governments.
  • “The criminal complaint unsealed today alleges that Saudi agents mined Twitter’s internal systems for personal information about known Saudi critics and thousands of other Twitter users,” said U.S. Attorney David L. Anderson. “We will not allow U.S. companies or U.S. technology to become tools of foreign repression in violation of U.S. law.
  • Twitter restricts access to sensitive account information “to a limited group of trained and vetted employees,” said a spokesman, who spoke on the condition of anonymity “to protect the safety” of Twitter personnel. “We understand the incredible risks faced by many who use Twitter to share their perspectives with the world and to hold those in power accountable. We have tools in place to protect their privacy and their ability to do their vital work.”
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  • The charges also reflect the wealth of data tech firms compile on their users, including email addresses, payment methods, and IP addresses that can give up a user’s location.
  • The case “is incredibly significant,” said Adam Coogle, a Human Rights Watch researcher who just published a study on Saudi Arabia’s targeting of dissidents. “Twitter is the de facto public space of Saudi Arabia — the place where Saudi citizens come and discuss issues. It’s a space in which the Saudi authorities have used various means to curtail critical voices, including by seeking to unmask anonymous accounts.”
Javier E

The Plan to End Boomers' Political Dominance - The Atlantic - 0 views

  • one of the great divides of modern politics: young versus old. In Britain, age is now a better predictor of voting intention than social class. Overall, the Boomers voted for Brexit in 2016 and the Conservatives in 2017; their Millennial children voted Remain and Labour.
  • The debate is also about so much more than abstract disagreements over policy and government funding.
  • Caring for the elderly, for example, becomes wrapped up in assertions of “just deserts”—I’ve worked hard all my life and paid my taxes—and fears about money-grubbing children selling off their parents’ houses. It is also, like taxes on inheritance, a subject that prods at many people’s deep desire to pass something on to their offspring.
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  • Perhaps some are jealous of what appear to be greater opportunities afforded to younger people, bemused by younger generations’ lifestyles, and fearful that their own values are seen as outdated.
  • The trouble was the sheer number of Boomers. As a big generation, the Boomers had achieved political and cultural dominance. They were no more self-interested than any other group, but they warped government priorities. And that was unfair to everyone else. Boomers, Willetts argued, were not okay.
  • Both sides claim that the other is being condescending. Some Boomers argue that the word itself has become a cover for ageism; Millennials roll their eyes and reply with the phrase that has come to encapsulate their weariness: “Okay, Boomer.”
  • Boomers have bent the gravity of politics toward themselves and their needs. They buy newspapers. They vote. They wield their spending power effectively. Their voice is loud. To build a fair and just society, the question then must be: On everything from elderly care to housing, how do you persuade them to vote against their own interests?
  • Generational arguments are essentially family dramas, with all the friction that implies.
  • “When we have all this power, we shouldn’t be surprised when younger people are rather resentful,” he said. “I’m surprised they are aren’t angrier.”
  • the rage tends to come not from Millennials, who feel disadvantaged, but from the Boomers, who feel attacked.
  • In Britain, for example, Boomers have opposed housebuilding, leaving the country with a chronic shortage that protects the value of their homes but traps younger people in the expensive private-rental sector. (In 1980, the average private tenant spent 10 percent of their income on rent. That figure is now 30 percent.
  • Boomers have successfully deterred politicians from devaluing the state pension, even as salaries and working-age benefits have stagnated. The result is that pensioner poverty has halved since 2000, whereas poverty among people of working age has risen
  • defensiveness can sometimes manifest as retaliatory accusations that younger generations have it easy. The intergenerational debate has spawned its own weird jargon: “Avocado toast,” for example, has become shorthand for the argument that Millennials splurge their salaries on good living, rather than saving for a home like their parents did
  • the problem is particularly acute in Britain, because of the country’s steep fall in home ownership in recent decades. The British rental sector is much more “mom and pop”—literally. “Something like 20 percent of Boomers have a second property that they rent out,” Willetts said. That means there is a direct transfer of wealth from younger renters to older asset-owners.
  • How, though, do you explain to otherwise reasonable retirement-age voters how much damage their demands are causing to their children’s generation—without completely alienating them? “In politics, you’re not a kamikaze pilot, you’re not on a suicide mission,” Willetts said. He told the Boomers that the houses they owned had been largely built in the 1960s and ’70s so their parents had somewhere to live; they now had a similar obligation to allow more building for their own kids. “That was the only argument that gave them pause,”
  • differences within generations do matter, though, because rich Boomers, the luckiest part of a lucky generation, will leave their money to their children, further entrenching inequality. If the value of assets is rising faster than incomes, we are heading for a society where wealth matters more, and earnings matter less. The problem will not resolve itself without intervention.
  • One obvious answer is to build more houses (bad news for the residents’ associations who want to preserve their unblocked views or quiet roads) and ease lending criteria for younger people, to make it easier for them to get mortgages.
  • Willetts has a more radical idea: Offer younger people £10,000 when they turn 30, money that they could put into a pension, use to start a business, combine into a down payment, or spend on education or training
Javier E

Kings, Presidents and Foreign Subversion | Talking Points Memo - 0 views

  • After the Stuart Restoration, Charles II sought to loosen his dependence on Parliament by among other things receiving subsidies (large cash payments) from Louis XIV, King of France. The ability to supply tax revenue for impoverished Kings is basically the root of all parliamentary power in what is now the United Kingdom. At the time the King being in the pay of a foreign King wasn’t without controversy. But it didn’t seem absurd on its face, as it would to us today, because in many ways the theory was that the King owned the country.
  • But the King owned his power. His sovereignty and the bundle of powers he used to enforce it were his. Any sense of what was in the public interest or his personal interest was an irrelevancy or not even entirely comprehensible because again, he was King. He didn’t just have the powers. He owned them. In a sense he owned the whole country.
  • This is a critical backdrop to all those provisions in the US Constitution about foreign subversion and subsidies. Seen through this perspective, which is the proper one, there are numerous provisions in the Constitution meant to ensure that the President remains beholden to the Constitution and the Congress. He doesn’t own his powers.
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  • The US constitution gives the President a great deal of power. That power has been added to immensely by constitutional interpretations from the 20th century and especially those from the late 20th century tied to the President’s powers as “commander-in-chief” of the US armed forces.
  • ut the powers are real and they were a key element behind the passage of the constitution itself in 1787
  • There was a growing consensus that the Articles of Confederation that preceded them, designed in the context of extreme wariness of monarchical and executive power, simply lacked the energy and executive power to defend itself and what remained a generally weak country. A great deal of the debate in essays of ‘The Federalist’ grapple with how to make an executive potent and yet restrainable.
  • But the key through-line through the whole constitutional document is that the powers of the President are given to him or her for the specific and sole purposes of protecting the constitution, enforcing the laws and protecting the national interest. They are not owned but on loan.
  • The President is a fiduciary of the American people, much as a financial advisor or lawyer or trustee to whom you give a great deal of power but only to act on your behalf. The moment they start using the power you’ve given them to act on your behalf but rather use it to solicit money for themselves the power instantly becomes illegitimate.
  • the President has no power at all to use these powers – which are vast and on loan – to enrich himself or to retain his hold on power
  • It really is like you’re a rich person with wealth manager managing your assets and you find out they made the decision to manage your assets by giving every third dollar to themselves. But, instead of hoping a plane to Uruguay as most self-respecting crooked wealth managers might, this one said: No, this was the decision I made. My power is complete. Don’t second guess me!
  • This is why all the chatter about well Presidents do quid pro quos all the time, or they withhold aid from countries or they bargain over things with foreign leaders. Well, sure they do. But they can do that because they’re advancing what they understand to be the national interest. Your wealth manager or lawyer can make deals on your behalf but not theirs. It’s really not complicated
Javier E

How U.S. Firms Helped Africa's Richest Woman Exploit Her Country's Wealth - The New Yor... - 0 views

  • Among the businesses was the Swiss jewelry company, which records and interviews reveal was led by a team recruited from Boston Consulting. They ran it into the ground. Under their watch, millions of dollars in Angolan state funds helped finance the annual parties on the French Riviera.
  • When Boston Consulting and McKinsey signed on to help restructure Sonangol, Angola’s state oil business, they agreed to be paid in an unusual way — not by the government but through a Maltese company Ms. dos Santos owned.
  • PricewaterhouseCoopers, now called PwC, acted as her accountant, consultant and tax adviser, working with at least 20 companies controlled by her or her husband. Yet there were obvious red flags as Angolan state money went unaccounted for, according to money-laundering experts and forensic accountants who reviewed the newly obtained documents.
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  • When the Western advisory firms came into Angola almost two decades ago, they were viewed by the global financial community as a force for good: bringing professionalism and higher standards to a former Portuguese colony ravaged by years of civil war. But ultimately they took the money and did what their clients asked
  • “These guys hear about Isabel and they run like the Devil from the cross,” Eduardo Sequeira, head of corporate finance for Fidequity, a Portuguese firm that manages many of Ms. dos Santos’s companies, wrote in a 2014 email after the Spanish bank Santander turned down work with her.
  • “They are there as all-purpose providers of whatever these elites are trying to do,” he said. “They have no moral status — they are what you make of them.”
  • Global banks including Citigroup and Deutsche Bank, bound by strict rules about politically connected clients, largely declined to work with the family in recent years, the documents show.
  • Ms. dos Santos and her husband could face years in prison if convicted, according to the office of Angola’s president, João Lourenço. At the heart of the inquiry: $38 million in payments from Sonangol to a Dubai shell company hours after Angola’s new president announced her firing. Ms. dos Santos’s half brother is also facing corruption charges for helping to transfer $500 million from Angola’s sovereign wealth fund.
  • in their quest for fees, several have worked for authoritarian or corrupt regimes in places like China or Saudi Arabia. McKinsey’s business in South Africa was decimated by its partnership with a subcontractor tied to a political scandal that took down the country’s president.
  • The new leaks show the pattern repeating itself in Angola, where invoices point to tens of millions of dollars going to the firms. They agreed to be paid for Angolan government work by shell companies — tied to Ms. dos Santos and her associates — that were in offshore locations long used to avoid taxes, hide illicit wealth and launder money. The arrangement allowed her to keep a large portion of the state funds, the records show.
anonymous

Wall St at record levels after Trump signs fiscal aid bill | Reuters - 0 views

  • Wall Street’s main indexes were trading at record levels on Monday as President Donald Trump’s signing of a long-awaited $2.3 trillion pandemic aid bill bolstered bets on an economic recovery.
  • In a sudden reversal late on Sunday, Trump backed down from his threat to block the hard-fought bill, restoring unemployment benefits to millions of Americans and averted a federal government shutdown.
  • erasing some fears and investors are relieved that there is help out there,
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  • The S&P 1500 airlines index added 1.5% as carriers are set to receive $15 billion in addition payroll assistance under the new government aid.
  • Ten of the 11 major S&P sectors were higher
  • After a sharp recovery from a coronavirus crash in March, the S&P 500 is on track to rise more than 15% this year
  • it appears unlikely to gain traction in the Republican-controlled Senate.
  • will put to vote a proposal for higher pandemic relief payments
  • Britain and the European Union clinched a lean post-Brexit trade deal on Thursday, while the launch of a mass COVID-19 vaccination drive in Europe over the weekend added to the upbeat mood.
anonymous

Here's What's In The Covid Relief Bill - The New York Times - 0 views

  • Smaller stimulus checks, targeted aid for small businesses, and funding to buy and distribute vaccines are among the main components of the latest pandemic relief package.
  • Among the most anticipated components of the legislation is the direct payments, with $600 going to individual adults with adjusted gross income of up to $75,000 a year based on 2019 earnings. Heads of households who earn up to $112,500 and a couple (or someone whose spouse died in 2020) who make up to $150,000 a year would get twice that amount.
  • The agreement would revive enhanced federal jobless benefits of up to $300 per week for 11 weeks, providing a lifeline for hard-hit workers until March 14. (The new benefit is half the amount provided by the CARES Act in the spring.)
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  • mong other measures, the new legislation caps loans at $2 million and makes them available only to borrowers with fewer than 300 employees that experienced at least a 25 percent drop in sales from a year earlier in at least one quarter. The agreement also sets aside $12 billion specifically for minority-owned businesses.
  • Clearing a longstanding legislative impasse, the deal will also help millions of Americans avoid unexpected — and often exorbitant — medical bills that can spawn from visits to hospitals.
  • Overall, the legislation provides $13 billion for increased nutrition assistance, $400 million of which will support food banks and food pantries. An additional $175 million is earmarked for nutrition programs under the Older Americans Act, such as Meals on Wheels.
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