He was a regular columnist for The New York Times’s Dealbook section. His work has appeared in The New York Times, The Atlantic, The NewYorker.com, The Washington Post, The Baffler, The American Prospect and on NPR and "This American Life." Before joining ProPublica, he was the Wall Street Editor of Conde Nast Portfolio and a columnist for the Wall Street Journal, covering markets and finance.
He lives in Brooklyn with his wife, the journalist Sarah Ellison, and their daughters.
After an examination by its regulator, Freddie agreed not to make new investments that profited from homeowners staying trapped in high interest-rate mortgages. But Freddie has kept billions worth of those investments.
Bloomberg story shows that while we still haven’t had a full accounting of the financial crisis, we did have a Treasury Secretary sharing what amounts to inside information with a few elite Wall Street traders. Here are some questions that demand answers.
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.