Since the beginning of last year, Goldman Sachs has been on a mortgage buying spree—gobbling up roughly two-thirds of the delinquent loans auctioned by Fannie Mae during that time, the Wall Street Journal reports.

Here's why: Goldman is buying up these loans in order to satisfy the terms of a settlement reached with state and federal officials in January 2016 for the firm's role in fueling the housing bubble. Goldman must modify $5.1 billion worth of loans by either reducing interest rates, extending maturities, or writing down the values of the mortgages.

Why it matters: These types of settlements are arguably the most significant actions taken by the government to lessen the damage of the housing crisis on homeowners. Financial institutions have agreed to similar settlements totaling $181.1 billion for crisis-related misdeeds.

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Florida fully lifts coronavirus restrictions on restaurants

Photo: Don Juan Moore/Getty Images

Florida Gov. Ron DeSantis (R) announced Friday the state will completely reopen its economy, allowing restaurants at operate full capacity and barring localities from ordering businesses to close.

Why it matters: The state became one of the world's epicenters for the virus in July, forcing DeSantis to pause its first round of reopening.

2 hours ago - Economy & Business

Eyeing the end of gas-powered cars

Illustration: Eniola Odetunde/Axios

Gasoline-powered cars may be going the way of the woolly mammoth, even if it will take decades to replace them and seems hard to fathom today.

The big picture: Internal combustion engines (ICEs) have powered automobiles for more than 100 years. But the shift to electric vehicles, slow to materialize at first, is now accelerating due to tightening government policies, falling costs and a societal reckoning about climate change.

Virginia Gov. Ralph Northam tests positive for coronavirus

Photo: Zach Gibson/Getty Images

Virginia Gov. Ralph Northam (D) and his wife, Pamela, both tested positive for coronavirus, his office announced on Friday.

The state of play: The Northams were tested after one of their staff "who works closely within the couple's living quarters" tested positive. The governor is asymptomatic, while his wife is "experiencing mild symptoms." They plan to isolate at home for 10 days.

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