Journalism in the Public Interest


Jake Bernstein

Jake Bernstein
Read Jake Bernstein's e-book, The Wall Street Money Machine, on your Kindle or mobile device.

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Jake Bernstein is a business reporter for ProPublica. He was featured in the Best Business Writing in 2012 and 2013.

In April 2011, Bernstein and colleague Jesse Eisinger were awarded the Pulitzer Prize for National Reporting for a series of stories on questionable Wall Street practices that helped make the financial crisis the worst since the Great Depression.

Prior to joining ProPublica, Bernstein worked at The Texas Observer, an investigative biweekly, for six years, and as its executive editor from 2004 to 2008. Bernstein began his career in Central America, where for several years he reported on efforts to end longstanding civil conflicts. He served as a staff writer for the Pasadena [Texas] Citizen and then for the Miami New Times. His work has received numerous state-level and national journalism awards, and The Texas Observer, under his leadership, was named Best Political Magazine of 2005 by Utne Reader. Bernstein is co-author of Vice: Dick Cheney and the Hijacking of the American Presidency (2006).

Articles (page 2 of 6)

Emails Give Glimpse Into Deals That Fueled Financial Meltdown

Hedge fund Magnetar and Wall Street banks created $40 billion of deals. The emails show how they did it.

Two Wall Street Players Ensnared in New Probe

Banker involved in Magnetar deals is one of two recommended for disciplinary action for "alleged misrepresentations in connection with the sale" of a complex security.

Margin Call: A Small Movie Unveils Big Truths About Wall Street

Margin Call’s all-star cast brings to life writer/director J.C. Chandor’s film, which is the most insightful Wall Street movie ever produced.

Making Margin Call: An Interview with Writer/Director J.C. Chandor

J.C. Chandor sits down with ProPublica to talk about how the movie Margin Call came together and the challenges of making a hard-hitting movie about Wall Street on a tight budget.

Did Citi Get a Sweet Deal? Bank Claims SEC Settlement on One CDO Clears It on All Others

A $285 million SEC settlement appears to wipe the slate clean on Citi's multi-billion-dollar CDO business.

Century Man

One of the driving forces behind U.S. Century Bank is Sergio Pino, a prominent Miami developer and political donor.

Florida Bank, Used as ATM by Insiders, Won TARP Loan But Now Teeters

U.S. Century Bank had very high rates of insider loans and other red flags, yet got a $50.2 million TARP loan. Now that taxpayer money may be lost as the bank stumbles under heavy losses.

Wells Fargo Picks to Pay

The bank agrees to pay $590 million to settle claims alleging that Wachovia, acquired by Wells Fargo in 2008, misrepresented its financial health and the quality of its bonds.

Damned If You Do or Don’t: How Murdoch Reporters’ Bribes to British Cops Violate U.S. Law

News Corp. employees in Britain could be charged in U.S. with bribery if they recorded payments accurately in the company's books and inaccurate accounting if they didn't.

After SEC Settlement With JPMorgan, Will Other Banks Pay Too?

Many other banks created deals with similar characteristics to the transaction that resulted in JPMorgan's $154 million settlement with the government. But the SEC still faces big challenges in wresting more settlements from banks.

From Dodd-Frank to Dud: How Financial Reform May Be Going Wrong

Some fear the grandest ambitions of the law passed last year to reform the nation's financial system are being undermined in the rule-making process.

U.S. Senate Investigation Gives New Details on Magnetar

Citing reports by ProPublica, lawmakers describe the hedge fund's role in the collateralized debt obligations business.

Madoff Calls Big Investors ‘Complicit’ in Jailhouse Interview

In an interview with the Financial Times, Bernard Madoff names four associates who he alleges knew that his business wasn't on the level.

What We’re Still Wondering About the Madoff Ponzi Scheme

New Documents Show Hedge Fund Magnetar Influenced Deal, Despite Denials

A Financial Crisis Inquiry Commission document shows Magnetar selected assets for a billion dollar Merrill Lynch mortgage securities deal, despite having long asserted otherwise.

The ‘Subsidy’: How a Handful of Merrill Lynch Bankers Helped Blow Up Their Own Firm

The builders of mortgage securities at industry giant Merrill Lynch couldn’t find buyers for their wares. So they paid another group at Merrill to take billions of dollars of the unwanted assets.

SEC Investigating Citigroup Mortgage Deal

The SEC is investigating whether in the run-up to the financial crisis Citi acted improperly as it created and marketed a $1 billion CDO.

SEC Investigating Deal Between JPMorgan and Hedge Fund Magnetar

The SEC is investigating whether JPMorgan adequately disclosed to investors that the hedge fund Magnetar influenced a deal it was also betting against.

Magnetar Responds to Our April Story—And Our Response

Magnetar Deals at Center of New Lawsuit

A European-based investment fund and a French bank are battling it out in New York state court over complex securities created at the behest of the hedge fund Magnetar
Jake Bernstein
Read Jake Bernstein's e-book, The Wall Street Money Machine, on your Kindle or mobile device.

Contact Info

Get Updates

Stay on top of what we’re working on by subscribing to our email digest.