The IRE Resource Center is a major research library containing more than 23,250 investigative stories — both print and broadcast. These stories are searchable online or by contacting the Resource Center directly (573-882-3364 or rescntr@ire.org) where a researcher can help you pinpoint what you need. Browse or search the tipsheet section of our library below. Stories are not available for download but can be easily ordered by contacting the Resource Center:
Search results for "Federal Reserve" ...
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Fraud on the Job
KING 5 dedicated nearly a year to dig into the complex world of the federal minority contracting program. The program is intended to remedy past and current discrimination against minority and women-owned contracting businesses who want a shot at working on federal highway projects. But instead of fostering equal opportunity, KING found staggering fraud and abuse in the taxpayer-funded program. The investigative series titled “Fraud on the Job" was born. The Washington State Department of Transportation (WSDOT) is responsible for administering the program. WSDOT contracts with a small state agency, the Office of Minority and Women’s Business Enterprises (OMWBE) to certify which contractors qualify as "disadvantaged business enterprises" or DBEs. They also make sure that once in, the companies aren’t cheating or becoming too big to qualify. The state’s share of billions of federal highway funds comes with some strings attached, including a requirement that a certain percentage of money spent on transportation projects be reserved for minority-owned firms. The results of the “Fraud on the Job” series were swift and extraordinary. Two days after the first story aired, the governor ordered the Washington State Patrol to conduct a criminal fraud investigation. She also ordered a top-to- bottom review of OMWBE. Two weeks later, the governor asked the director of OMWBE to resign. Another top manager quit and another was fired. Two of the companies KING exposed as defrauding the government were removed from the DBE program by the state. State and federal legislation is now being drafted to stop the cheating. And now the FBI and the Inspector General of the U.S. Dept. of Transportation are investigating.
Tags: fraud; government; tax; taxpayer; fund
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Inside Track
The Wall Street Journal staff exposed how new ways of insider trading have corrupted the U.S. financial, corporate, and political worlds, having enormous impact in the process. The article shows how well-connected investors managed to gain an advantage by getting early clues to the Federal Reserve's forthcoming policy moves, as well as to important legislation from Washington lawmakers.
Tags: Wall Street; insider trading; washington; lawmaker; federal reserve
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The Fed's Trillion-Dollar Secret
"Bloomberg News sued the Federal Reserve under the FOI Act, seeking disclosure of its loans to banks during the financial crisis. The central bank fought the release of the data for more than two years, during which time congress and the courts both weighed in on Bloomberg's side."
Tags: FOIA; Federal Reserve; foreign banking; central bank
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The Fed's Secret Liquidity Lifeline
The stories reveal the first details of the Federal Reserve's unprecedented bailout of hundreds of banks and other companies during the financial crisis.
Tags: Federal Reserve; Goldman Sachs; bailout; banks
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Quest for Transparency
The investigations in the series come after Bloomberg News sued the Federal Reserve in 2008, seeking to force the disclosure of details related to the central bank's emergency assistance programs. After a lower court found in Bloomberg's favor, the Federal Reserve released a list of securities used to produce the stories.
Tags: Bloomberg; the Fed; Federal Reserve; securities; central bank; FOIA
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Failure of Justice
The failed investigation of a police imposter who sexually assaulted at least 15 Apache teenagers serves as a window into the breakdown of law enforcement in Indian country. Native Americans suffer from disproportionate crime rates - especially sexual assaults - largely because of a dysfunctional criminal justice system. In this case, two men were falsely arrested and jailed; the real criminal got away and victims saw no justice. The government's own records, obtained through a federal lawsuit, demonstrate that the problem is systemic - a result of overlapping jurisdictions, mismanagement, lack of funding inadequate training and multiple other flaws.
Tags: Law Enforcement; Native American; Justice; Jurisdiction; Sexual Assault; Rape; Police; Imposter; Apache; Whiteriver; Indian Reservation
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The Fight for Transparency
"Bloomberg is the only news organization ever to sue the Federal Reserve Board-and win, forcing disclosure of borrowers and collateral for emergency bailout money." They are forcing the Reserve Board's accountability by providing accurate numbers to the public. Also, the information on the subject is now available to every major news organization in the US.
Tags: Federal; government; money; funds; taxpayers; financial; stimulus; Obama; banking; banks; FOIA
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USA Inc.: The State of Capitalism
The investigation delves into the hidden details surrounding the government's unprecedented intervention into business and the economy, specifically in regards to conflicts of interest at the New York Federal Reserve Bank and drastic actions taken by government officials to persuade and reward banks.
Tags: federal reserve; new york; banking; capitalism; bailout; government; united states; industry; intervention; regulation;
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Goldman Sachs: Low Road to High Finance
After the collapse of the financial market in the United States, there were many key components which played a large role in the devastation to many Americans. These key components mainly focus on major financial institutions, which played a large role in manipulating the mortgage and mortgage security markets. Furthermore, the institutions that should be keeping them honest, failed to do so.
Tags: Nation's financial sector; financial institutions; mortgage; market; American International Group (AIG); Federal Reserve Bank of New York; Moody's; Securities and Exchange Commission; Citigroup, Inc.; Bank of America Corp.
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The Financial Collapse
Among the findings in this package are: In February, Morgenson warned that the arcane contracts known as credit-default swaps were so volatile and explosive that they would "set off a chain reaction of losses at financial institutions." In May, she examined the moves by private investment firms to buy up hundreds of New York apartment buildings, betting that they could evict tenants and raise rents. In July, she reported on the enormous increase in consumer debt and the changes in the lending system that encouraged risky loans. In September, she dissected the small London Investment unit that had bedazzled the insurance giant AIG with its profits but soon brought it to its knees and helped trigger a widespread collapse. In November, she profiled the reckless executives who gambled on subprime home mortgages and led Merrill Lynch to its demise. In December, she held the credit-rating agencies to sharp account, in particular Moody's, showing how they had minimized or overlooked the dangers to investors.
Tags: AIG; credit-default swaps; Wall Street; Merill Lynch; Federal Reserve; columnists