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17 years after the Boston Globe published its groundbreaking reporting on sexual abuse by priests, the Catholic Church faces a historic crisis of legal liability.

The big picture: The Church could be on the hook for more than $4 billion in damages, the AP estimates.

  • There could be at least 5,000 new cases against the church in New York, New Jersey and California alone, which are among the eight states with “lookback windows” that allow sex abuse claims no matter how old, the AP reports.
  • 15 states and D.C. have changed their statute of limitations since 2018 to allow for these suits, since so many sexual assault allegations date back decades.

Why it matters: Never before have so many states acted in near-unison to lift the restrictions that once shut people out if they didn’t bring claims of childhood sex abuse by a certain age, often their early 20s.

The bottom line: Los Angeles lawyer Paul Mones, who has won tens of millions in sex abuse cases against the church going back to the 1980s, told the AP that “the zeitgeist is completely unfavorable to the Catholic Church.”

  • “The X-factor here is whether there will be trials,” he said. “If anyone starts trying these cases, the numbers could become astronomical.”

Go deeper: Hundreds of accused priests face no oversight

Go deeper

Washington Redskins will change team name

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The Washington Redskins announced Monday that the NFL team plans to change its name.

Why it matters: It brings an end to decades of debate around the name — considered by many to be racist toward Native Americans. The change was jumpstarted by nationwide protests against systemic racism in the U.S. this summer.

Houston public health system CEO says coronavirus situation is "dire"

Houston's coronavirus situation is "dire, and it's getting worse, seems like, every day," Harris Health System CEO and President Dr. Esmail Porsa said Monday on MSNBC's "Morning Joe."

The big picture: Porsa said the region is seeing numbers related to the spread of the virus that are "disproportionately higher than anything we have experienced in the past." He noted that Lyndon B. Johnson Hospital's ICU is at 113% capacity, and 75% of its beds are coronavirus patients.

Fund managers start to board the stock bandwagon

Illustration: Aïda Amer/Axios

Asset managers at major U.S. investment firms are starting to get bullish with their clients, encouraging stock buying and trying not to get left behind right as the metrics on tech stocks rise back to highs not seen since the dot-com crash of 2000.

What's happening: Appetite for stocks is starting to return, but slowly as institutional money managers were overwhelmingly sitting on the sidelines in cash during April and May.