The Wall Street Money Machine

Monday, April 25, 2011

ProPublica’s Jesse Eisinger and Jake Bernstein, who were awarded the Pulitzer Prize for National Reporting for “The Wall Street Money Machine,” talk about the series, which examined how some hedge funds and banks worsened the financial crisis while making a hefty profit for themselves.  It’s ProPublica’s second Pulitzer in only its third year of publishing investigations, and it’s the first Pulitzer to be awarded to a group of stories that were never published in print.


Jake Bernstein and Jesse Eisinger

Comments [6]


Ms. Buhl sets some lofty standards for her fellow ink-stained wretches, yet despite her "exposes" on several funds--which entailed trawling the SAC parking lot on a public holiday to see who had the temerity to take it off & lurking in the gym at 100 West Putnam to find hedge funders working out after work (when, they should be, what? "Fiduciary-ing" 24/7)--it would appear the only person criminally convicted (or even charged with wrongdoing, for that matter) is the reporter herself!

Mar. 26 2013 09:04 PM
lulu from Greenwich

Bernie Madoff would agree with Dan from Weschester. 80% of hedgefund sector is located in London.European Parliment is doing something about it.

Apr. 25 2011 03:18 PM
Teri Buhl from CT

Did any of the people in Jake and Jesse's vilification of Wall Street get arrested? Don't think so. Has a civil court found anything that Magnetar did illegal? Don't think so. This reporting often read like a liberal dream of what 'should be' not allowed in Wall Street deal making but in fact it's actually allowed in our free market economy. So I'm still confused on how this series was so valuable to readers that it deserved a Pulitzer? Besides the fact that they were not the only ones reporting on the Magnetar deals.

Apr. 25 2011 02:53 PM
Fuva from Harlem

Shall we retire this line of discussion altogether --- from the talk radio, cable news and PBS segments, and message boards, etc.?

We have talked and b*tched about this TO DEATH. And it is counterproductive in allowing us to be outraged and feel self-righteous and indignant, and release these via snarky posts, while, MEANWHILE, NOTHING has been or is being done about it.

False/hollow self-righteous catharsis is enabled here, while the crooked games continue and spread...

Or is DOING something about it/ changing the game even the intention?

Apr. 25 2011 12:40 PM
Jeff from New York

Chuck Schumer needs to fully explain his continued support for this industry, his silence on the fraud and abuse of the financial industry is reprehensible!

Apr. 25 2011 12:36 PM
Dan from Westchester

I worked as an appraiser for the RTC years ago, and I don't recall anybody going to jail back then, just as now. The real criminals, in my opinion, are the loan officers who made the deals, made the money and bailed out before things fell apart.

Apr. 25 2011 12:31 PM

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