The IRE Resource Center is a major research library containing more than 27,000 investigative stories.

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Search results for "debt" ...

  • Way Ahead of the Curve

    This is a series of three stories by senior writer David Evans that ran in the February, July and November issues of Bloomberg Markets magazine. In "The Risk Nightmare," (July 2008), Evans pierced the opacity and complexity of credit default swaps, unregulated securities that were supposed to act as a form of insurance and protect investors against risk. He found that CDS had built up so many interconnections that one player could jeopardize the entire financial system. In "Banks on the Edge" (November 2008), Evans reported that scores of regional banks across the U.S. would fail within a year because they hadn't yet realized their losses on defaulting mortgages. In "Peddling Tainted Debt to Florida," (February 2008), he reported that Lehman Brothers was both advising and selling toxic debt to Florida's "money market pool." This disclosure prompted a run on the pool, and it was then shut down as the state investigated its holding and worked to restore its creditworthiness.
  • Fixing New Jersey

    New Jersey's government turned from fiscally sound to being one of the worst in the nation. The state is tens of billions of dollars in debt, a rapid change in less than a decade.
  • Detroit tax breaks go to the well-heeled

    "An obscure, secretive city council entity, the "Hardship Committee," was charged with determining which property-owners were so poor they should be excused from paying all their taxes. But in many cases the breaks meant for the cash-strapped went to the seemingly well-off, including people who drove luxury vehicles, multiple property owners and others who got six-figure home-equity loans. These stories also looked at the members of the committee and found its members were being sued for fraud, had filed for bankruptcy, had a trail of unpaid debts and, in one case, had submitted a false resume."
  • From Dreams to Debt

    This story details a con scheme by unlicensed investment counselors affiliated with an organization called Pacific Wealth Management. The company would pay more than the asking price for many of the homes purchased for investors, then pay the seller's asking price and keep the difference. They sold millions of dollars worth of houses to middle-income families, but when the housing market began to deflate, these people were left with millions of dollars in debt.
  • No Haven For the Elderly

    This series "exposed significant patient-care deficiencies at one of Connecticut's largest nursing home operators, Haven Healthcare." Not only did the Courant's reporters discover neglect and a "deeply flawed regulatory system," the owner of the Haven Healthcare chain was using money to fund personal endeavors even while the chain fell into debt and could not pay for basic things.
  • Burnt Chefs

    The California Culinary Academy has recently skyrocketed it's tuition and enrollment, fired instructors and made admission tests more relaxed. With promises of becoming a celebrity chef, graduates of CCA are buried in debt while ending up with $8 an hour kitchen jobs.
  • Toxic Debt

    "In 2007, the financial world came unhinged. A rise in late mortgage payments triggered hedge fund blowups, massive Wall Street write-offs, ousted CEOs, Congressional hearings, and intervention by central bankers and finance ministers. In a series of exclusive and prescient stories, Bloomberg exposed the ties that connected unregulated mortgage brokers, fee-hungry Wall Street banks, conflicted credit rating companies, and the managers of money market funds and public pension plans."
  • Wake-up Call

    Medicare and health cost derived from the baby-boomer generation are driving the U.S. governments debts. "According to Government Accountability Office projections, if the federal government stays the course and makes no major changes in programs or taxes, it will be able to do little more than pay interest on its debts in just 30 years."
  • The Poverty Business

    Major national companies are found to be trapping vulnerable consumers into expensive loans by use of credit cards, computers and used cars. People are being pushed to pay off debts for which they've been cleared by bankruptcy courts and they are becoming more poor because of it.
  • Faith in Arlan Galbraith, Onario's Pigeon King

    The reporters investigated a pigeon breeding business that some people think is a Ponzi scheme. The business, Pigeon King International, is not transparent about its investors or the debt it owes to them.