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Jake Bernstein

Jake Bernstein was a business and financial reporter for ProPublica.

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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).

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.

by Jake Bernstein,

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.

by Jake Bernstein,

Buying Your Vote

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.

by Jake Bernstein,

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.

by Jake Bernstein,

The Wall Street Money Machine

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.

by Jesse Eisinger and Jake Bernstein,

The Wall Street Money Machine

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.

by Jake Bernstein,

The Wall Street Money Machine

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.

by Jake Bernstein,

The Wall Street Money Machine

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.

by Jake Bernstein,

The Wall Street Money Machine

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.

by Jesse Eisinger and Jake Bernstein,

Century Man

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

by Jake Bernstein,