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Hilton to skip out on taxes to pay its mortgage

February 27, 2013
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Hilton to skip out on taxes to pay its mortgage

The Baltimore Business Journal and the Sun are both reporting that the city will bail out its city-funded Convention Center Hilton Hotel this year to the tune of $1 million. “I expect it’s going to be an ongoing thing for a period of time,” Finance Director Harry Black told the Sun. Adding for the...
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Posted in The News Hole | 321 Comments »

Josh Goldberg charged with mortgage fraud

January 22, 2013
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Josh Goldberg charged with mortgage fraud

A federal grand jury indicted mortgage broker Joshua S. Goldberg today, alleging he helped steal $2.5 million from various lenders through a mortgage fraud scheme in Baltimore. City Paper first outlined the scheme in this 2008 story. As the financial crisis worsened Goldberg and his husband, Bayardo Alvarez, continued to get big mortgages and...
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Posted in Crash Course, The News Hole | 606 Comments »

Primer on the Federal Bailout of Fannie Mae and Freddie Mac

September 8, 2008
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Who are Fannie and Freddie?: Fannie and Freddie are private corporations implicitly (until Saturday; now explicitly) backed by the federal taxpayers. Congress chartered both companies (Fannie in 1938, Freddie in 1970) to “create liquidity” in the mortgage market. What’s Liquidity?: When you borrow $200,000 to buy a home and promise to pay that back...
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