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).

So Who is Carmen Segarra? A Fed Whistleblower Q&A

Ex-New York Fed examiner fired after criticizing Goldman Sachs has advice for Janet Yellen: It will take tough oversight to stop the next financial crisis.

SEC Files Charges in Magnetar Deal

The Securities and Exchange Commission has charged an asset manager with fraud for its role in one of the most notorious groups of mortgage securities deals behind the financial crisis.

Report: Homes for Indigent Addicts Have Poor Conditions, Unsavory Ties to Drug Clinics

A new study finds that New York’s three-quarter houses are dangerous and unsanitary and residents say they are compelled to use drug clinics that pay kickbacks to landlords.

Documents to Remain Open in Examiner’s Lawsuit Against Fed

A federal judge rejected the Federal Reserve Bank of New York’s plea to seal documents in a wrongful termination lawsuit filed by a former bank examiner who claims she was fired for doing her job.

N.Y. Fed Moves to Seal Documents in Ex-Bank Examiner’s Suit

At issue: Whether internal emails, records related to supervision of Goldman Sachs are confidential and shouldn’t have been made public as part of Carmen Segarra’s wrongful termination case.

NY Fed Fired Examiner Who Took on Goldman

Lawyer Carmen Segarra said she was pressured to change her finding that the way Goldman Sachs managed conflicts of interest was flawed.

Inside a New York Drug Clinic, Allegations of Kickbacks and Shoddy Care

Homeless and struggling with sobriety, Lillian Imbert faced a choice: Go to useless counseling sessions at New York Service Network or be evicted from her “sober” home. Her story shows how drug treatment clinics and landlords traffic in indigent alcoholics and addicts, all at taxpayer expense.

SEC Reportedly Passes on Charging Magnetar

Lawyer in Insurance Fraud Case Asks to Rescind Guilty Plea

Joseph Caramadre, who recruited dying people to help him and investors cash in on insurance death benefits, claims he is innocent and blames his lawyers and state of mind for his plea.

Insurance Schemer Cops a Plea

Joseph Caramadre made a profit dealing in insurance products that paid out when someone died. He said he paid the terminally ill to participate, creating win-win deals. Now, he's pleaded guilty to fraud and identity theft.

Death Takes a Policy: We Answer Questions From Readers

Joseph Caramadre made a profit dealing in insurance products that paid out when someone died. Prosecutors charged him with identity theft and fraud, but Caramadre said he just used a legal loophole. His story moved dozens of ProPublica readers to debate the ethics of insurance and corporate behavior.

How an Obscure Federal Rule Could Be Shaking Up Presidential Politics

Federal rules that forbid employees of Wall Street firms from giving money to certain state officials running for federal office if the firms do business with that state helped knock New Jersey Gov. Chris Christie out of contention for a spot on the GOP ticket, according to anonymous sources quoted in the New York Post.

Death Takes a Policy: How a Lawyer Exploited the Fine Print and Found Himself Facing Federal Charges

The life insurance industry tried to make variable annuities irresistible to investors and was enraged when a Rhode Island lawyer exploited the fine print for his own profit.

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.

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