Pulitzer Podcast: Bernstein & Eisinger on Wall Street, Magnetar, CDOs
ProPublica won the Pulitzer Prize for National Reporting for its series, “The Wall Street Money Machine.”
Its lead reporters, Jake Bernstein and Jesse Eisinger, take a moment to explain the series, how it all started and their reaction after reeling in ProPublica’s second Pulitzer. Theirs was the first Pultizer awarded to a body of work that didn’t appear in print (i.e., online only).
You can read the full series here: The Wall Street Money Machine [1] and the letter addressing the award from our editor-in-chief [2]. You can also subscribe to all of ProPublica’s podcasts on iTunes [3].
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Podcast Pulitzer Special: Jake Bernstein and Jesse Eisinger on Wall Street Coverage
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April 30th, 2011 at 2:42 pm
Stan O’Neal may have passed Robert Rubin on the inept scale for allowing this to happen.
April 30th, 2011 at 10:09 pm
“Citi’s CDO operations during late 2006 and 2007 functioned largely to sell CDOs to yet newer CDOs created by Citi to house them,” charges a pending shareholder lawsuit against the bank that was filed in federal court in Manhattan in February 2009. “Citigroup concocted a scheme whereby it repackaged many of these investments into other freshly-baked vehicles to avoid incurring a loss.”
Citigroup described the allegations as “irrational,” saying the bank’s executives would never knowingly take actions that would lead to “catastrophic losses.”
ok, read those last two quotes/sentences again…
Citi did unethical behavior (my judgement) to avoid losses – and that is their obligation to shareholders – to avoid losses…so, how can an amoral entity be expected to be ethical? They don’t give a shit and, therefore can’t. Citizens United v FEC…up yours people, up yours…we live in a fascist corporatocracy – Marcus Aurelius, err Petey Wheatstraw, help me with that spelling s’il vous plat…
May 1st, 2011 at 10:42 am
There is an oscar winning documentary called “inside job” that should be must viewing for all of us. The short story-lots of crooks, no arrests or convictions because Washington and the regulators as well as the academics and wall street types were in it up to their frickin’ eyeballs. And, they are still at it!
May 1st, 2011 at 4:52 pm
BR, in your book “Bail out Nation” (which I savoured para by para) you listed Greenspan as the main culprit for the recent financial debacle(s), followed by various actors and finally # 13-17 WS biggest investment firms.In light of more recent info from sources such of “The Wall Street Money Machine” would you reconsider upgrading WS ‘ 5 biggest firms to a more prestigious place in the list of shame, say way up there with the biggies, perhaps shoehorning them within the first 5?