Jake Bernstein


Jake Bernstein was 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).

What We Still Don’t Know About the Fed’s Leak Investigation

After looking for nearly six months, the Federal Reserve says it couldn’t find out who had shared confidential policy information. Critics in Congress aren’t satisfied with the account.

Fed Inspector General Reopens Leak Investigation

The move comes as Senate Finance Committee Chairman Sen. Orrin Hatch demands more information about how a private newsletter obtained confidential details of Fed discussions.

A Stress Test For The New York Fed

As congressional critics push for reform of Wall Street’s lead regulator, Fed Chairwoman Janet Yellen says more of the decisions on bank oversight have shifted to Washington, D.C.

Sen. Warren, Rep. Cummings Press Federal Reserve For Details of Leak Investigation

In a letter to the Fed, they say "public has a right to know" what happened after potentially market-moving information found its way into a private newsletter in 2012.

High-Level Fed Committee Overruled Carmen Segarra’s Finding on Goldman

New York Fed President Bill Dudley says senior Fed officials did not accept a conclusion that had been endorsed by frontline Fed examiners stationed at some of the nation's largest banks.

Top Fed Policy Group Brought Up Leak to Private Newsletter

Answering a ProPublica records request, the Federal Reserve acknowledged a leak of Federal Open Market Committee information but declined to release the committee's transcripts on the matter.

Leak at Federal Reserve Revealed Confidential Bond-Buying Details

Then-Chairman Ben Bernanke ordered an internal review of the previously undisclosed leak, which found its way into a newsletter for big investors.

New York Fed Chief Stands Firm Against Charges of Weak Oversight

Bank President William Dudley said supervision is stronger than ever, but Democratic senators were unconvinced: "You need to fix it, Mr. Dudley, or we need to get someone who will."

Federal Reserve Announces Sweeping Review of Its Big Bank Oversight

Ahead of Senate hearing on regulatory capture, the Federal Reserve Board wants to look at whether the views of examiners are being heard by higher-ups.

The Carmen Segarra Tapes

Carmen Segarra secretly recorded 46 hours of audio while embedded as a bank examiner at Goldman Sachs between November 2011 and May 2012. These are some of her recordings.

Secret Tapes Hint at Turmoil in New York Fed Team Monitoring JPMorgan

Examiners are reportedly blocked from doing their job as "London Whale" trades blow up.

Senate Hearing Set on Secret Recordings at N.Y. Fed

A banking subcommittee will explore the case of fired examiner Carmen Segarra and whether the Federal Reserve Bank of New York is too soft on institutions it supervises.

Inside the New York Fed: Secret Recordings and a Culture Clash

A confidential report and a fired examiner’s hidden recorder penetrate the cloistered world of Wall Street’s top regulator — and its history of deference to banks.

In Turnabout, N.Y. Moves to Shut Troubled Rehab Clinic

Records show state officials knew for years about problems at New York Service Network, including allegations of overbilling and violations of patients’ rights exposed by a ProPublica investigation.

Judge Tosses Retaliation Lawsuit by Fired N.Y. Fed Examiner

Ruling: Carmen Segarra's claim that she was dismissed for not withdrawing a critical finding about Goldman Sachs is not protected by federal law.

MIA In The War On Cancer: Where Are The Low-Cost Treatments?

Big Pharma’s focus on blockbuster cancer drugs squeezes out research into potential treatments that are more affordable. Says one researcher: “What is scientific and sexy is driven by what can be monetized.”

Caramadre Gets Six Years for Investment Scheme Involving Terminally Ill

Judge cites “very real emotional and psychological victimization" of dying participants who took cash for assigning their death benefits to investors.

SEC Issues More Fines Over Magnetar Deals – and Appears to Move on

There have now been more than $435 million in SEC settlements regarding one of the most notorious groups of mortgage securities deals behind the financial crisis.

New Allegations from Fired Examiner Describe Chaotic Workplace at New York Fed

The Fed has denied allegations by Carmen Segarra, who says she was wrongly terminated after refusing to back off findings that were critical of Goldman Sachs.

N.Y. Fed Asks Court to Dismiss Fired Goldman Examiner’s Lawsuit

Responding in a wrongful termination case, the New York Federal Reserve disputes Carmen Segarra’s claim that Goldman Sachs lacked firm-wide conflict-of-interest policies.

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