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The city of Detroit will receive more than half of $100 million in newly allocated federal funds to tear down dilapidated structures.

The city riddled with thousands of abandoned buildings will begin demolishing some of them later this month with the help of $52.2 million in federal money

source: detroitnews

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Fannie Mae, the nation’s largest mortgage finance company, saw its second-quarter profit nearly doubled to $10.1 billion. The company said it has now repaid about $95 billion of the federal bailout money it has received. Source: USA TODAY