In 'Timber Wars,' we've talked about how the northern spotted owl took the blame for a lot of other things that cost jobs and hurt timber-dependent towns, like automation and international competition. Well, there was another huge thing the owl took the fall for—something that cost timber towns even more money than locking up the national forests, at least in Oregon.

In a year-long investigation, OPB, the Oregonian, and ProPublica explored how Wall Street real estate trusts and other investors gained control of the state’s private forestlands—and how they’ve profited at the expense of rural communities.