Robby Pedrica's Tech Blog

ProPublica and This American Life team up to expose investment bankers and hedge fund managers

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Robby Pedrica
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A fascinating look into the financial crash in America and world wide:

http://www.thisamericanlife.org/sites/all/play_music/play_full.php?play=405

For seven months a team of investigative journalists from ProPublica looked into a story for us, the inside story of one company that made hundreds of millions of dollars for itself while worsening the financial crisis for the rest of us.

A hedge fund named Magnetar comes up with an elaborate plan to make money. It sponsors the creation of complicated and ultimately toxic financial securities… while at the same time betting against the very securities it helped create. Planet Money‘s Alex Blumberg teams up with two investigative reporters from ProPublica, Jake Bernstein and Jesse Eisinger, to tell the story. Jake and Jesse pored through thousands of pages of documents and interviewed dozens of Wall Street Insiders. We bring you the result: a tale of intrigue and questionable behavior, which parallels quite closely the plot of a Mel Brooks musical.