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Medical Marijuana Loophole Has LA Fuming

Overrun, city cracks down on dispensaries

(Newser) - After letting marijuana dispensaries multiply across the city, Los Angeles is getting tough on them, telling some to shut down while the city council works to close a loophole that allowed many to open. The city issued a moratorium on new dispensaries in 2007, but many people filed “hardship...

GE Reaps Billions From Bailout Loophole
 GE Reaps 
 Billions From 
 Bailout Loophole 

GE Reaps Billions From Bailout Loophole

Loophole lets company pull down $74B from FDIC

(Newser) - The biggest beneficiary of the federal government's debt guarantee program, one of Washington's key bank rescue efforts, isn't a bank or a financial services company—it's General Electric, which exploited a loophole it had lobbied aggressively to insert, and reaped billions in bailout money. A joint investigation by ProPublica and...

Rangel Saved Loophole that Aided $1M Donor

Oil-drilling company helped finance NY rep's legacy project

(Newser) - As questions swirl over the methods Charles Rangel used to raise funds for a school in his name, a New York Times investigation finds that the New York representative and chair of the House Ways and Means committee fought to save a tax loophole that benefited one of the school's...

'Basketball on Grass' Has Heads Spinning

Offbeat offense catches on with high school football coaches

(Newser) - Standard football rules allow the team on offense five eligible receivers downfield. But what if opponents and officials can't tell which five until the center snaps the ball? Hundreds of high schools run the controversial "A-11" offense, which relies on confusion instead of brawn. The New York Times checks...

Sleight of Hand Has IRS After Billionaire

Anschutz owes $143M on gains, feds say; he claims technicality

(Newser) - The IRS is going after the US’ 41st-richest man, the Wall Street Journal reports, as part of a larger move to curtail one method of skirting capital-gains taxes. Philip Anshutz owes $143.6 million in back taxes on a “variable prepaid forward contract” deal he made in 2000 and...

Gems That Bankroll Burma Junta Remain on Sale in US

Congress closing loophole as a first step

(Newser) - Congress is moving to close a loophole in a law that forbids the sale of rubies from Burma, but the measure comes too late for the holiday shopping season, writes Marin Cogan of the New Republic. That means US shoppers—unless they take pains to question their jewelry shop's policy—...

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