Our friend and comrade Mark Pittman of Bloomberg News died unexpectedly on Wednesday.  The link to the Bloomberg story is below.  Mark was a great reporter and a great friend.  He prized accuracy over timeliness at a time when many people in the media don’t know the difference.  He led the legal effort to force the Fed to open the books on AIG and the many other bailouts. I owed him a phone call last week and now must wait to return it and his many favors.  We actually got to take in a Yankees game a couple of years ago and I now appreciate how important and fleeting are those moments.   Mark will be missed but the fight continues.

Chris

http://www.bloomberg.com/apps/news?pid=20601109&sid=af7QohP8YdRo&pos=12

Category: Markets

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8 Responses to “Bloomberg: Mark Pittman, Reporter Who Foresaw Crisis, Dies at 52”

  1. Chris Atkins says:

    Husband, Father, Journalist. An honest and fair man with a sense of humor that was irrepressible. He knew the markets better than anyone I have ever known and never put down a word until he was sure he understood a story from every angle, side to side, top to bottom. I have been on the other side of the table (at S&P) from Mark countless times (and next to him at the bar at the Four Seasons more than once) and I enjoyed the hell out of our friendship. But he never let our friendship keep him from calling ‘em like he saw ‘em and that’s how it should be. He told me in the Spring of ’07 that subprime was going to be the defining moment of his and my career…I didn’t believe him! (I do now.)

    To his family, you are in my thoughts.

    I will miss you, Mark.

    Chris

  2. davossherman@gmail.com says:

    Very sad, God must really take the greats and leave us the Bernanke’s, Summers, Romers and a likes.

  3. Blurtman says:

    Pittman broke the story about the recipients of the AIG bailouts in September 2008. It became national news in 2009. Are you certain he died of natural causes?

    http://www.bloomberg.com/apps/news?pid=20601087&sid=aTzTYtlNHSG8&refer=home

  4. The Curmudgeon says:

    Only the good die young…

  5. cookiehead says:

    I bet he was murdered. He was the person to successfully sue the Fed regarding the $2 trillion in loans they made to undisclosed financial firms. First Mike Morgan has a heart attack after his criticism of GS and the Fed, and now Pittman. It seems that “fighting the Fed” is also hazardous to your health!

  6. flipspiceland says:

    @cookiehead

    His daughter posted on another board that it was his heart that gave out, to stop the speculation about homicide.

  7. bruerr says:

    He was a Kansas City native years ago. A lively and good spirited person. 6’4″ tower of a person. If you met him, you know of his positive and robust commitment to truthfulness in reporting. He was one to venture into far corners, in search for truthfulness in business finance and government expenditures related.

    In the last year, starting in April and again in November 2008, he was a party of Bloomberg L.P. vs. Board of Governors of the Federal Reserve System. This suit shows his willingness and commitment to accuracy in reporting, and also, the length he was willing to go to get accuracy in financial related matters of importance (to the American common, and business industry). This is important work product of Mark, because the records he wads seeking were quite detailed.

    See page 4-6 of the original complaint

    The public has a significant and legitimate interest in the Fed’s conduct … because the Fed’s assets are the public assets. Taxpayers are entitled to understand and assess the decisions by the Fed” … [as relates their sobriety and management style, practices and social mores - the risk tolerance of the five officers who sign off on lending and other officers which participate in making appraisals, employees or outsourcing figures, which work under the appointment of the Fed's Five Board of governors, or individual staff that serve at appointment and at the pleasure of the Fed chairman - the guy who sits at the head of the Fed-5 sometimes referred to as feudal-governors in old english law (pre-1775 era) or tyrants in the original Declaration of Independence, circa 1776 --- Taxpayers are entitled to understand and assess the decisions by the Fed] … on valuation of collateral it accepts … for public money lent to private institutions …

    By November 11, 2008 this call for accuracy in reporting, went out from Columbia Journalism Review to others in the media, to put down rivalries and join this call for truthfulness in disclosure: “The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.”

    A call to news organizations: Join Bloomberg’s suit vs. Fed (2008)

    Here be the order and opinion written by the Hon. Justice Loretta Preska compelling the Fed to Disclose Emergency Bank Loans and related information, relative to the Freedom of Information Act request. Mark Pittman is named on page one of this order. 47 page, pdf file (Opinion and Order).

    I ask that you all take a moment to sign petition (in links below) and forward links to friends and business associates – that his work may be made more dear to us, who are trying to preserve decorum in our society and love, for nation (@ origins of democracy – not 4 feudalism nor benefit of feudal-governors/federal-governors) nor an imperialist’ groups claim to sovereignty over our Judicial Branch’s sovereignty, or our a Legislative Branch’s sovereignty @ sunshine laws passed by our Legislative Branch for this exact type of situation.

    Please sign the petition which remembers Mark’s work, and forward

    Please set partisanship aside.
    Please sign and forward.

    .

  8. [...] Whalen of The Big Picture writes, “Mark was a great reporter and a great friend.  He prized accuracy over timeliness at a [...]