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Prosecutors rested their case Monday afternoon in the trial against former Trump campaign chairman Paul Manafort.This comes after 10 days of testimony from 27 witnesses. The defense has not indicated if it will call any witnesses to the stand.Prior to the prosecution resting, a bank official testified that the Federal Savings Bank gave Manafort million in loans and knew that he lied about his financial situation before they were approved by the bank's chairman.James Brennan, a vice president of Federal Savings Bank, said he faced so much pressure from his bank's chairman about Manafort's ability to borrow the million that he lied on a form reviewed by federal regulators and the bank's directors about the stability of the loan."If I had my recommendation ... the loan would not be made," Brennan said in court Monday.Brennan, who wrote a memorandum about a second .5 million loan the bank extended to Manafort, said he had given the loan a rating of "4." But in court Monday, he said he shouldn't have done that.A very stable, high-quality loan would get a rating of "1," and any rating less than "4" wouldn't get approved and would draw regulators' attention because of its instability, he said.When asked by prosecutors why the loan received a 4 rating, Brennan said it was because of "Mr. Calk," referring to the bank's founder, Stephen Calk."It closed because Mr. Calk wanted it to close," Brennan said, referring to one of the loans.Last week, the jury heard testimony that Calk approved the loans as he sought Manafort's help in getting a high-ranking position in the Trump administration.Brennan also said he and his colleagues documented their concerns about Manafort's personal finances. Information about Manafort's company's income, his unpaid debts from his Yankees season ticket and undisclosed mortgages on his other properties in New York raised red flags internally at the bank, he added.Brennan was the 27th prosecution witness to testify against Manafort in the first major test in court for special counsel Robert Mueller, who is currently leading an investigation into Russian interference in the 2016 election.Manafort has been charged with 18 tax and banking crimes. He has pleaded not guilty to all charges.Prosecutors pulled up an email that Brennan sent to colleagues who sat on the bank's loan-approving committee in September 2016. The email detailed some of "the issues we were having" regarding one of Manafort's loan applications, Brennan said.Brennan also described how he asked Stephen Calk's brother, John Calk, another major Federal Savings Bank shareholder, to sign off on the loans to Manafort, but John Calk refused.In all, the bank lost .8 million on the loans it made to Manafort, Brennan said. 2763
Protesters angry over the acquittal of ex-police officer Jason Stockley, a white cop on trial for murder in the shooting death of a black man, were back in the streets of downtown St. Louis early Monday after demonstrations the previous night turned violent.More than 80 people were arrested late Sunday as protesters attacked police, broke windows and flipped over trash cans, authorities said.On Monday, protesters were locking arms on Market Street, a few blocks from the site of the previous night's violence. 521
Property manager Brandon Scholten is seeing big price drops in some of his listings since COVID-19 hit.“We’re at ,040 but we started at above ,300,” Scholten said about a two-bed, two-bath townhouse in downtown Denver.Scholten, the owner of Keyrenter Property Management Denver, says some of his downtown rental properties are staying on the market 20% longer and that prices have dropped nearly 20% compared to the same time last year. And he believes the plummet is linked to the pandemic.“Especially with so many remote work options now,” Scholten said. “I think all of it is just going to push that pressure outward and you’ll see prices fall in the urban corridor.”What’s Scholten is seeing in downtown Denver is happening to other major metropolitan areas across the country.“The pandemic has shifted the demand for rentals away from these really expensive areas,” said Crystal Chen, a marketing manager with Zumper an apartment rental tracker.Zumper’s recent national rent report found one-bedroom rent prices in San Francisco fell nearly 12% year-over-year, the largest drop that city’s ever seen.Other major cities that saw decline in rent prices are New York, Boston and San Jose. Cities that reported some of the largest rent increases include Lexington, Akron and Anchorage.“It makes sense,” Chen said of the prices changes for rent. “Why would people want to pay a big city price tag if they can’t use the amenities and they’re stuck at home?”With more companies embracing working from home and more people looking to social distance, Chen says more renters are now leaving expensive big cities for cheaper surrounding areas.“Which we like to call the 'Brooklyn effect' since the important factors now are space and affordability,” she said.Space and affordability: two things New York City is not known for.“I’ll be honest, a lot of people are leaving,” said Lauren Feldesman, a real estate agent with Compass. “The number of lease break calls I get a week is astronomical.”Feldesman says she is seeing a huge surplus of downtown apartment rental inventory since coronavirus concerns swept the country.“It’s a tough situation,” she said. "People lost their jobs, they’re furloughed or they have their own businesses and their business is really shut down or has taken a huge hit.”While vacancy rates are going up in major metropolitan cities across the country, some downtown renters are seeing some financial relief.“People are now negotiating down 10, 15, even up to 20% of their rent because there is so many more vacancies now as than there was before,” Chen said.Without a vaccine, however, Chen predicts rental prices in downtown areas will continue this downward trend as the rental demand shifts from cities to the suburbs. 2757
Rep.-elect Alexandria Ocasio-Cortez on Wednesday backed House Democratic leader Nancy Pelosi to become House speaker next year once the party reclaims the majority in the chamber, so long as Pelosi "remains the most progressive candidate for speaker," a clear sign of support from one of the Democratic Party's rising liberal stars."All the challenges to Leader Pelosi are coming from her right, in an apparent effort to make the party even more conservative and bent toward corporate interests. Hard pass," the New York Democrat tweeted. "So long as Leader Pelosi remains the most progressive candidate for Speaker, she can count on my support."Ocasio-Cortez, a self-described democratic-socialist, has signaled she was open to backing Pelosi but her series of tweets Wednesday amounted to her strongest and clearest public statements to date supporting the Calfornia Democrat's would-be return to wield the speaker's gavel."I think she's a candidate to consider," Ocasio-Cortez said in June. "And I think when it comes to the leadership of the party that's a conversation that I have, you know, once I'm an elected member of Congress."And more recently, Ocasio-Cortez told Vice News last week that there's "an opening" to supporting Pelosi."I think there's an opening, for sure," Ocasio-Cortez told the publication.?"This is not about supporting or not supporting an individual. It's about making sure that we can get as progressive and aggressive of legislation as a party on climate change as quickly as possible."Ocasio-Cortez added Wednesday her hope that the party can pivot its focus toward their "priorities.""I hope that we can move swiftly to conclude this discussion about party positions, so that we can spend more time discussing party priorities: voting rights, healthcare, wages, climate change, housing, cannabis legalization, good jobs, etc."Pelosi needs a majority to be elected speaker of the House when the new Congress convenes. So far, there are 232 Democrats out of a total of 435 seats. Pelosi can only lose only a small number of Democrats, assuming all 200 current Republicans unite around their own candidate and against her. 2171
RAINBOW, Calif. (KGTV) - A new overpass may be destined for the I-15, not for people but mountain lions.A just-released study led by The Nature Conservancy and backed by the National Park Service recommended a stretch of the I-15 just south of Temecula - either an overpass or underpass like crossings in Colorado, Utah and Wyoming - allowing mountain lions and other wildlife to safely get across.On the west side of the highway is preserve space owned by San Diego State University. On the other side are 73 acres just purchased by The Nature Conservancy. Experts says the local mountain lions have been cut off by the freeways and are practicing inbreeding."That makes them more susceptible to disease, and that could be catastrophic for the mountain lion population," said Cara Lacey, an associate program director at The Nature Conservancy.Lacey points out crossings in other states have also cut down on vehicle collisions with wildlife. She says at least three mountain lions were struck by vehicles in that stretch of I-15 in 2017. Caltrans is studying a crossing on Highway 101, which would cost between and million. 1165