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peppertree's JournalMortgage delinquencies surge by 1.6M in April, the biggest monthly jump ever
Delinquencies among borrowers for past-due mortgages are soaring, a sign that Americans are struggling to pay their bills due to a wave of layoffs or lost income from the coronavirus pandemic.
Mortgage delinquencies surged by 1.6 million in April, the largest single-month jump in history, according to a report from Black Knight, a mortgage technology and data provider.
The data includes both homeowners past due on mortgage payments who aren’t in forbearance, along with those in forbearance plans and who didn’t make a mortgage payment in April.
At 6.45%, the national delinquency rate doubled from 3.06% in March - the largest single-month increase ever recorded, and nearly three times the prior record for a single month during the height of the financial crisis in late 2008, Black Knight said.
At: https://www.dispatch.com/zz/news/20200521/mortgage-delinquencies-surge-by-16m-in-april-biggest-monthly-jump-ever
NBA legend Bill Russell rips President Trump's opposition to mail-in ballots
Source: Yahoo! Sports
President Donald Trump’s recent threats to withhold federal funding from two states over plans to make absentee ballots available to all voters has captured the public ire of an NBA legend.
Bill Russell tweeted a direct message to Trump on Thursday sardonically reminding the president that the coronavirus pandemic is still ongoing, saying he doesn’t want to risk his life to vote.
Hello @realDonaldTrump there is a good reason for #VoteByMail not sure if you have heard of #coronavirus #COVIDー19 or better known as a #pandemic bit I don’t want to risk my life to #vote !
As MassLive points out, Russell has been highly critical of Trump in the past.
The Celtics great tweeted a direct repudiation of the president’s infamous “s---hole countries” remark in 2018 and once called criticism from Trump “the biggest compliment you can get.”
Read more: https://sports.yahoo.com/bill-russell-celtics-legend-president-trump-ballots-mail-voting-risk-my-life-nba-014704627.html
NBA legend Bill Russell: Standing tall for voting rights.
Jane Roe of "Roe v. Wade" said she was paid by anti-abortion rights groups to support their movement
Norma McCorvey — otherwise known as "Jane Roe" of Roe v. Wade, the landmark Supreme Court case that legalized abortion in the United States — said before her death that she was paid by anti-abortion rights groups to later oppose abortion.
McCorvey made the stunning revelation in the forthcoming documentary "AKA Jane Roe," set to premiere Friday on FX.
In an excerpt of the documentary reviewed by CBS News, McCorvey told director Nick Sweeney: "I was the big fish."
"I think it was a mutual thing," she added. "I took their money and they'd put me out in front of the cameras and tell me what to say. That's what I'd say."
McCorvey, the face of the abortion-rights movement at the time, came out against abortion in 1995 after purportedly finding religion at the hands of an evangelical minister.
At: https://www.cbsnews.com/news/jane-roe-v-wade-norma-mccorvey-said-she-was-paid-by-anti-abortion-rights-groups/
Norma McCorvey, 1947-2017.
A soon-to-be released deathbed confession reveals that McCorvey had been bankrolled by anti-choice groups to come out against abortion rights in 1995.
Florida scientist says she was fired for 'refusing to manipulate' COVID-19 data
The scientist who created Florida's COVID-19 data portal wasn't just removed from her position May 5, she was fired Monday by the Department of Health, she said, for refusing to manipulate data.
Rebekah Jones said in an email to Florida Today that she single-handedly created two applications in two languages, four dashboards, six unique maps with layers of data functionality for 32 variables covering a half a million lines of data.
Her objective was to create a way for Floridians and researchers to see what the COVID-19 situation was in real time.
Then, she was dismissed.
At: https://www.usatoday.com/story/news/2020/05/19/florida-scientist-refused-manipulate-covid-19-data-and-fired/5220794002/
Rebekah Jones, formerly of the Florida Department of Health.
Jones states having been ordered to censor some Covid data - and then fired after she refused to manually change data to drum up support for Governor de Santis' plan to reopen.
Florida has official count of 47,000 Covid-19 cases, and over 2,000 deaths - though some watchdog groups claim the real number is much higher.
Argentine Congress meets 'virtually' for first time
In a historic session, Argentina's Congress met 'virtually' for the first time on Wednesday, as floor sessions restarted for the first time since the country entered a mandatory nationwide lockdown on March 20.
The Senate, led by Vice President Cristina Fernández de Kirchner, began an online plenary session at 2pm local time on Wednesday, with many members joining the session online.
Argentina's lower house, the Chamber of Deputies, followed suit a few hours later under a similar format led by Speaker Sergio Massa.
Giant screen mounted inside the Senate and House allowed members to connect remotely, who later cast votes in electronic form after validating their identities. All but five House members (out of 257) and one senator (out of 72) participated.
Topping the agenda was a debate on 20 decrees signed by President Alberto Fernández since March. Most of these decrees dealt with the economic impact of the Covid-19 pandemic - which the Economy Minsitry estimates will shave 6.5% off GDP this year, after two years of deep recession.
Both houses unanimously approved 18 of the 20 decrees - with the right-wing "Together for Change" coalition objecting only to the March 12 international travel ban and an April 1 decree suspending layoffs.
Democratic odyssey
The opposition had earlier sought to block the holding of virtual sessions, with some lawmakers staging an "odyssey for democracy" on April 28 from as far as 1,300 mi away in an attempt to show virtual sessions were unnecessary.
House Majority Leader Máximo Kirchner noted, however, that when the "Change" coalition was in power under former President Mauricio Macri (2015-19), "caucus leaders were never convened (to vote on decrees) - not even on the $44 billion loan taken out from the IMF."
"Perhaps institutions were less important then."
Congress will continue along these lines while social distancing rules remain in force. The federal stay-home measure was extended until May 24 - but with a significant lifting of restrictions, with 75% of workers being allowed to return to their jobs in most of the country.
Restrictions on 50% remain in place for the City and Province of Buenos Aires, which together account for 70% of the 7,100 Covid cases registered thus far.
At: https://www.batimes.com.ar/news/argentina/historic-session-as-congress-meets-virtually-for-first-time.phtml
Argentine House Speaker Sergio Massa presides over the opening of Wednesday's virtual floor session - the first in Argentine history.
The country's right-wing opposition had earlier demanded that floor sessions be held following a federal stay-home order on March 20 - then demanded they not be held, even threatening to have any bills approved in virtual session declared "unconstitutional."
Argentina's Supreme Court ratified the validity of virtual congressional sessions on April 24.
Democrats propose Coronavirus Relief Plan that would give U.S. residents $2,000 every month
In an effort to continue to help ease the financial pain millions of Americans are enduring amid the novel coronavirus pandemic, three Democratic senators made a headline-grabbing proposal this week to expand upon the $1,200 stimulus checks many have already received.
On Friday, Democratic Sens. Ed Markey, Kamala Harris, and Bernie Sanders introduced a bill that — if passed into law — would set up a monthly payment program for U.S. residents making less than $120,000 a year.
All qualifying residents would be sent $2,000 a month until the pandemic was over, regardless of whether they had a Social Security Number or had paid taxes last year.
Additionally, married couples who file taxes jointly would be entitled to $4,000 as well as an additional $2,000 for every child, up to three kids.
The Monthly Economic Crisis Support Act, which would last until three months after the end of the pandemic and is retroactive to March, would also prevent debt collectors from taking payments.
At: https://news.yahoo.com/democrats-propose-coronavirus-relief-plan-183420147.html
Senators Kamala Harris, Bernie Sanders, and Ed Markey: $4,000 per married couple as well as an additional $2,000 for every child (up to three kids), monthly for three months after the end of the pandemic.
The GOP counteroffer? Another cool million for the Caymans crowd.
Facing Covid test shortage, Argentina develops own serological test
Scientists from Argentina's National Research Council (CONICET) announced the development of a serological test designed to determine exposure to Covid-19 - the first such test developed in Argentina itself.
The test, developed in just 45 days by CONICET researchers working in Buenos Aires' Leloir Institute, was approved yesterday by the country's FDA counterpart, ANMAT.
"Nearly 5,000 (of these) tests have been carried out with excellent results," Dr. Andrea Gamarnik, head of the Leloir Institute's Molecular Virology Laboratory and one of the leaders of the project, said.
"The conditions are in place to immediately offer a production of 10,000 tests per week - and half a million within a month."
Serological tests measure the body’s immune response to infections. Argentina had up to now been dependent on imported tests - adding to the strain on hard currency reserves in a country struggling with a $250 billion foreign currency-denominated debt.
Consequently, only 75,000 Covid-19 tests have been administered in the nation of 45 million - or 1.7 tests per 1,000 people, compared to 12.8 in neighboring Chile and 23.6 in the U.S.
A nationwide stay-at-home order declared by President Alberto Fernández on March 19 has been credited with helping Argentina avoid the public health crisis currently afflicting Brazil and Ecuador.
Argentina has recorded 5,208 cases thus far, and 273 deaths - one-sixth as many as Ecuador, a country with just 40% the population.
At: https://translate.google.com/translate?hl=en&tab=wT&sl=auto&tl=en&u=https%3A%2F%2Fwww.pagina12.com.ar%2F264371-coronavirus-el-primer-test-serologico-hecho-en-la-argentina
Then-President Cristina Kirchner congratulates Dr. Andrea Gamarnik for receiving the 2015 L’Oréal-UNESCO International Award For Women in Science.
Dr. Gamarnik was again congratulated by Mrs. Kirchner, now Vice President of Argentina, over her team's development of a serological test for the detection of exposure to Covid-19 - the first such test developed in Argentina itself.
The country had dependent up to now on imported tests, limiting Covid test availability in the cash-strapped nation.
Stiglitz, 137 economists from 20 countries back Argentina in debt showdown
A group of 138 economists from 20 countries, including Nobel laureates Joseph Stiglitz and Edmund S. Phelps, urged Argentina's bondholders on Wednesday to take a "constructive approach" to the government's debt restructuring proposal.
The economists argue in the letter that Argentina's top spending priority is to protect its citizens from the health and economic fallout caused by the coronavirus crisis rather than pay back creditors who knew they were taking a big risk by buying high-yielding Argentine paper.
The government is out to revamp about $65 billion in "unsustainable" international bonds mostly dating from Mauricio Macri's 2015-19 tenure, requesting a three-year grace period with a 5.4% cut in capital and a 62% cut in interest.
But some major holders have balked at Argentina's proposal, estimated to be equivalent to a 56% "haircut." Bondholders have until May 22 to respond, after which Argentina will be in default.
This is part of a broad debt restructuring with creditors, including the IMF and Paris Club of country-to-country lenders. IMF Director Kristalina Georgieva declared that the country needs debt relief of between $55 billion and 85 billion.
Argentina currently owes $250 billion in foreign currency-denominated public debt - including $44 billion to the IMF. Over $34 billion is owed this year alone to private and foreign creditors.
The country was already in recession before going on lockdown against the pandemic on March 20, with GDP down 7.9% as of February from two years earlier.
At: https://money.usnews.com/investing/news/articles/2020-05-06/nobelist-stiglitz-economists-from-20-countries-back-argentina-in-debt-showdown
Columbia Professor and Nobel Laureate Joseph Stigliz with Argentine Economy Minister Martín Guzmán during a conference hosted by the Vatican on economic solidarity in February.
"We believe a sustainable agreement benefits both sides," Stiglitz and 137 other economists declared.
"A struggling economy with 45 million people and the creditors themselves. Now is the time for private creditors to act in good faith. A responsible resolution will set a positive precedent, not only for Argentina, but for the international financial system as a whole."
Openly gay woman running for sheriff in Ohio wins primary against Trump-supporting Democrat with 70%
An openly gay woman has decisively won a race against her opponent — and former boss — in an election to decide the Democratic candidate who will run for Hamilton County Sheriff in November.
Charmaine McGuffey, 62, defeated Hamilton’s County current sheriff, Jim Neil, 61, and will now face Republican Bruce Hoffbauer in the general election.
In the stunning victory against a two-time incumbent, McGuffey received about 70% of the votes, according to unofficial results.
The county Democratic Party endorsed McGuffey over Neil, who angered many Democrats after attending a Donald Trump political rally in 2016.
At: https://www.nydailynews.com/news/politics/ny-charmaine-mcguffey-hamilton-county-sheriff-ohio-wins-primary-20200430-i3o6eqw5fvhqtcgunzuefiwo6y-story.html
Democratic candidate for Hamilton County Sheriff Charmaine McGuffey.
She was endorsed by the county Democratic Party over incumbent Sheriff Jim Neil (a fellow Democrat), who had supported Trump in 2016.
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