They called it “ extend and pretend,” and it worked so well that when Covid-19 brought the global economy to a halt in March 2020, they turned to it again. Faced with delinquent loan payments, lenders decided to be patient: Instead of foreclosing on properties whose value was plummeting, they lengthened loan terms and ignored short-term valuations. It’s not that the market participants had forgotten the lessons of the global financial crisis that followed the 2000s boom. An after-party at Cipriani was “an absolute zoo,” says Toby Cobb, a managing partner at lender 3650 REIT, as if the industry were operating at peaks last seen in 2006. Yet many conferencegoers were upbeat, trading notes on a surprisingly resilient economy and the media’s tendency to exaggerate the challenges. Trump’s trip to a Manhattan courthouse, the six major broadcast and cable news networks all used overhead shots to show Mr. And loans made during the mid-pandemic go-go days, when the world was high on government stimulus money, needed fixing. 1 For much of its existence, the NYT was known as The Gray Lady, both for its tradition of only printing in. Founded in 1851, the Times has long been one of the most prestigious and highest-profile newspapers in the world. Commercial property transactions were stalled, squelching demand for new loans. The New York Times (NYT or Times) is a newspaper and digital media brand published by The New York Times Company. “Only after they were embarrassed did they start looking,” the person said.The high chieftains of real estate finance flocked to the Marriott Marquis in New York’s Times Square in June at a precarious moment for their business. The Post quoted a person familiar with internal DOJ discussions who “felt as though the department was reacting to the House committee’s work as well as heightened media coverage and commentary,” drawing attention to the scheme. The 25 Best Shows on Netflix to Watch Right Now. When the DOJ finally began investigating the fake elector scheme in early 2022, the bipartisan House Select Committee on the January 6 Attack was already conducting its own inquiry into top Trump officials and allies. President Donald Trump speaks to supporters from The Ellipse near the White House on January 6, 2021, in Washington, DC. “You work so hard not to be a partisan that you’re failing to do your job,” he told the Post. “You can take it to the extreme,” Peter Zeidenberg, who was part of a special counsel probe of the Bush White House in the 2000s, said of the department’s desire to avoid the appearance of political impropriety. One former Justice official told the Post, "You couldn’t use the T word.” The Post investigation revealed that “some prosecutors” below Garland and Monaco “chafed, feeling top officials were shying away from looking at evidence of potential crimes by Trump and those close to him.”ĭepartment employees tasked with putting together briefing materials for the attorney general and his deputy were told to steer clear of mentioning Trump or Trump allies. The approach generated dissension within DOJ ranks. during the early months of 2021, promised soon after the attack that prosecutors were “looking at all actors, not only the people who went into the building.” The strategy came even as Michael Sherwin, acting U.S. When Lisa and Garland came on board, they were fully onboard with that approach.” “The notion of opening up on Trump and high-level political operatives was seen as fraught with peril.
Inflation started to take off in early 2021 as changes in spending patterns tied to the pandemic. “A decision was made early on to focus DOJ resources on the riot,” one former Justice Department official familiar with internal debates over department strategy told the Post. Jeanna Smialek, a Federal Reserve correspondent for The New York Times.
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