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.
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.
Watch carefully, and you'll see how the three men who saved the world—Federal Reserve Chairman Ben Bernanke, NY Fed's Timothy Geithner, and Treasury Secretary Henry Paulson—get it wrong again and again and again.