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City Didn’t Follow the Team San Jose Money Trail

Like an underwater homeowner on an adjustable-rate mortgage in late 2008, Team San Jose was unfazed by money issues in the months leading up to its being slapped with a default notice. And like a feckless federal regulator, the city official charged with overseeing the local business-union-municipal alliance was upbeat—right up until the report that $750,000 had fallen off the truck.