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Investigations You Need to Read: Thursday

Today in accountability news:

  • Despite public outrage over executive compensation in the financial industry, top hedge fund managers saw record gains in pay last year, reports The New York Times. The top 25 earners took home a collective $25.3 billion, with the least of them taking home $350 million in 2009.
  • The Chicago Tribune reports on a consumer ripoff in the seafood industry: Investigators found that across the country, many seafood packers have been including the ice in the weight--and therefore, the price--of seafood products sold to consumers.
  • Data show that the Fed's mortgage portfolios--bought off Bear Stearns and AIG during their 2008 crises--are suffering losses as homeowners continue to default on their mortgages, reports The Wall Street Journal.
  • The government promised tens of thousands of black farmers that by the end of the month, it would pay more than $1 billion in restitution as part of a discrimination lawsuit filed against the U.S. Department of Agriculture. The Washington Post reports that last week, Congress broke the promise when it went on recess without appropriating the money.
  • NPR reports that Catholic bishops in the U.S. have been quietly reinstating priests accused of sexual abuse. In 2006, a jury in a civil suit found that a priest in Fresno, Calif., had molested a minor, but he still serves as a priest working with youth.

These stories are part of our ongoing roundup of investigations from other news outlets. For more, visit our Investigations Elsewhere page.

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