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New York’s Catholic Church seeks $100 million loan to pay priest victims

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The Roman Catholic Archdiocese of New York is seeking permission for a $100 million mortgage on some of its valuable Manhattan property to fund its compensation program for people sexually abused by its priests, a spokesman said on Wednesday.

The archdiocese said last October it would compensate people who had accused priests of abusing them as children, including those prevented by statutes of limitations from filing civil lawsuits. It said at the time it would seek loans to fund the payouts, which are being decided by two independent arbitrators.

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On Monday, the archdiocese filed a petition in New York state court in Manhattan seeking approval for a one-year mortgage from JPMorgan Chase on land it owns behind St. Patrick’s Cathedral; the Lotte New York Palace hotel is located on the site. The petition was necessary under a New York law governing the use of church property, Joseph Zwilling, an archdiocese spokesman, said in a telephone interview.

“Because we have begun the process of paying out the compensation to victims, the archdiocese has taken this short-term loan to cover the payments,” Zwilling said.

The archdiocese is accepting new applications from victims who had not previously come forward, and it will take out a longer-term loan once it has a clearer idea of the total compensation amount later this year, Zwilling said.

Under the first phase of the compensation program, 144 people who had previously complained of abuse filed claims. The archdiocese has made 64 offers of compensation so far, of which 44 have been accepted, Zwilling said. He said the archdiocese would not discuss the size of the payouts until the program was completed.

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Most cases of abuse happened two or three decades ago. All of the accused priests are either dead or have been removed from ministry after an internal board reviewed the accusations, Zwilling said.

The archdiocese is asking victims who had not previously come forward to make claims under the second phase of the program. Those victims must also make their accusations to police, Zwilling said. If any priests end up being accused for the first time, they will also be scrutinized by the internal review board, he said.

The Catholic Church has grappled for years with complaints from around the world that some of its clergy sexually abused children. On Wednesday, the last remaining survivor of abuse serving on the Vatican’s three-year-old Pontifical Commission for the Protection of Minors quit her position, blaming “shameful” resistance from church officials.

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(Reporting by Jonathan Allen; Editing by Leslie Adler)

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… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

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Trump claimed North Korea missile testing ‘would stop’ — but they just launched again: report

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The upcoming G7 summit meeting in Bairritz, France will have one more issue to grapple with after North Korea reportedly conducted missile tests.

"South Korea's military confirms that North Korea has launched a projectile this morning. From South Hamgyong Province. Japan's government reported it first," Voice of America Seoul bureau chief William Gallo Tweeted Friday.

"North Korea has now conducted nine rounds of launches since early May. But this one's notable because it comes after Trump says Kim promised "this testing would stop when the exercises end." They did end Tuesday. And yet..." he noted.

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Trump is ‘having a full-blown mental breakdown’ and needs to resign: Ex-Trump staffer

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Leading Republican elected officials should work with President Donald Trump's family to negotiate him resigning from office, a former top White House official suggested on MSNBC on Friday.

Former White House press secretary Anthony Scaramucci blasted his former boss during an interview with Chuck Todd on MSNBC's "Meet the Press Daily."

"He has totally and completely lost it. There is nobody that can look at the situation, read the tweets, look at the press sprays, and say he hasn’t lost it," Scaramucci argued.

"What does that mean, lost it?" Todd asked. "Define that."

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Obama’s chief economist warns of ‘a very high chance’ Trump’s trade war could cause 2020 recession

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The former chair of the Council of Economic Advisers under President Barack Obama warned of "a very high chance" of Trump's trade war with China resulting in a recession -- "just in time for 2020."

Austan Goolsbee was interviewed by MSNBC's John Heilemann on Friday after the DJIA closed down over 600 points after the trade war escalated on Friday.

"Just give us, if you would, Austan, your sense of what has unfolded today and how bad it is," Heilemann asked.

"Yes, it’s terrible, I'm phoning from a bunker as we speak," Goolsbee replied.

"There hasn’t been a day like this in a very long time. Yes, the markets sell a lot but the fact we’re going to have an escalating trade war, the president of the United States is publicly declaring the head of the Fed an enemy of the state and, oh, by the way, 40% of the Amazon is on fire and Ruth Bader Ginsburg is being treated for pancreatic cancer," he continued. "If this is on a Friday, it makes it bad for Monday."

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