gretchen morgenson
@gmorgenson
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Senior financial reporter, NBC News Investigations; Pulitzer Prize 2002; former NYT, WSJ; new book on predatory finance https://t.co/pO8kzsEDnr
New York City
Joined November 2013
As the gulf between rich and poor widens across America, here's the why, the how and the who. Coming April 25, 2023.
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Thank you Prof G for a vital conversation on the perils of private equity and "These Are The Plunderers."
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NEW: Senators launch bipartisan probe of private equity's growing role in U.S. health care via @nbcnews.
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FTX's regulatory chief had 4 job titles in 2 years. What was he really doing? via @nbcnews.
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New documents show what the government knew and when about Fannie and Freddie profitability after the bailout.
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Washington Post story about Sheehy's business acumen says he's received little national scrutiny. Guess they missed this. via @nbcnews.
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Hot stuff from @markmaremont and @jamesvgrimaldi The FBI is conducting a criminal investigation of a company with ties to acting Attorney General Matthew Whitaker via @WSJ.
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Triple-digit interest rates on small business loans, foreclosures on pledged properties in a pandemic. All blessed by federal regulators. via @nbcnews.
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What happens when private equity buys anesthesia practices? Prices rocket and MDs become "widgets." Excellent reporting by @PeterWhoriskey
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Happy to. In times of universal deceit, telling the truth is a revolutionary act.
@gmorgenson Thank you for staying with this Gretchen!!.
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WHEELS OF JUSTICE. Parker Petit, former MiMedx CEO and subject of @wsj investigations, guilty of securities fraud today. Bravo to employees who spoke truth to power here.
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New exclusive: Wells Fargo paused mortgage payments for some customers without asking, increasing their costs, imperiling their homes and harming their credit. via @nbcnews.
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Wells Fargo strikes again. This time in auto insurance.
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Crucial and crushing report on how private equity has targeted hospice care for predation.
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NEW: A second Senate investigation into private equity and healthcare. This time, the ER.
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Judge: gov't improperly withheld documents in Fan/Fred litigation. A glimpse of what it's been trying to hide.
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"Get that money!" the memo to employees said. Here's what happened when private equity took over a dermatology practice. via @nbcnews.
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Toys “R” Us “had real people, credible institutions, engaged in a serious discussion” to save the firm. Then five hedge funds stopped the clock. via @WSJ.
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Two reasons why we'll know sooner rather than later what Trump will do about Fannie and Freddie.
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“Rage is the only quality which has kept me writing columns for newspapers.” Fabulous obit of Jimmy Breslin.
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Interesting Steve Bannon on Marc Rowan as UST pick. "I don’t know how you pick a private equity guy, given all the damage private equity has done to workers in this country, how someone at Apollo is even on the shortlist.” via @business
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A ray of sunlight in an important government secrecy case.
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In 2018, WSJ broke the story about conflicts in McKinsey's bankruptcy and investment units. Now comes a criminal investigation. via @WSJ.
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@Fanniegate101 @NickDunnCNBC @USTreasury Would like to talk FNM with you. Can you contact me at gretchen.morgenson@nbcuni.com?.
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Cathie Wood, celebrity fund manager, is on this board. She didn't respond to a request for comment.
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Recently in NM where I spoke about private equity. Almost 40% of state's hospitals are PE-owned.
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What happens when private equity buys a hospital? More infections and falls for patients.
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How the accountability fail of '08 led to election '16.
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INSIDE A WAGER GONE BAD: How Deutsche Bank lost $1.6 billion on a busted bond bet known inside the bank as the “Berkshire trade.” via @WSJ.
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Interesting: in $FNMA takings case, DOJ asserts presidential privilege 45 times. In Starr case (AIG) not once. http://t.co/fvbPMRWSti.
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Why the downturn is different this time. "Large corporations were awash with profits going into 1929. in better shape than they are now when the Crash came." via @nbcnews.
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New lawsuit: SAG-AFTRA health benefit cuts are age discrimination and duty breach by trustees. via @nbcnews.
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My final WSJ story with awesome colleague @annetergesen on why teachers pay up for retirement accounts. Their unions press them to. via @WSJ.
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McKinsey & Co. is shuttering its restructuring unit. Five years ago, this investigation unveiled hidden conflicts in the operation. via @WSJ.
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Impact: The WSJ broke this story of McKinsey conflicts which today cost the firm $15 million in a DOJ settlement. via @WSJ.
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The CDC wanted evictions during COVID to stop but some local judges are flouting the bar. Wrenching stories of becoming homeless in a pandemic in winter. via @nbcnews.
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Diving into North Dimension, the SBF company with the strange website.
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A question I have wondered too: Why Is the Obama Administration Trying to Keep 11,000 Documents Sealed?
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McKesson CEO took home $692 million as his company failed to monitor opioid distribution. Where is the board?
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Treasury took 3 years to produce dox to Congress in HSBC deal. The most transparent administration in history?
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New mess for Wells Fargo--borrowers in bankruptcy say it made unapproved changes to loans, putting them at peril.
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Friends in High Places: How powerful politicians helped MiMedx fend off regulators.
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Steve Mnuchin said little on how to free Fannie/Freddie but spoke volumes on the new admin's 180 from the last.
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"How private equity firms prey on the middle class and destroy jobs."
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New dox show what govt knew when it started taking Fannie/Freddie's profits in 2012.
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New woes for Wells Fargo. It sent 38k erroneous communications in car insurance remediation. Fumbles Efforts to Repay Aggrieved Customers
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NEW: Wells Fargo wrongly kept a pension fund's fees for itself.
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Asset stripping by private equity firms buying hospitals poses threat to patients, new research says. via @nbcnews.
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Sam Bankman-Fried said Silvergate Bank was transformational in crypto. Now the bank faces lawmakers' queries about its extensive FTX dealings via @nbcnews.
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Unsealed documents in Fannie/Freddie suit cast doubt on key govt defense of 2012 profit sweep.
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A bit of what the gov't doesn't want you to know about Fannie/Freddie profit sweep. Thousands of dox still sealed.
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Why the Wells Fargo scandal is depressingly familiar, from a longtime observer of banks behaving badly.
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Oops, they did it again. More woes at Wells Fargo, this time in car insurance refunds
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One man's trip thru Wells Fargo's car insurance machine. Don't talk to a reporter, they said.
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Did Wells Fargo mislead Congress last year about the extent of misconduct at the bank?
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So proud to be a colleague of @mrothfeld and @joe_palazzolo who broke this amazing story so long ago.
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Good question Josh. What happened to the 4th estate?
@mattyglesias @ABWashBureau @NickTimiraos @gmorgenson NYT filed amicus in support of transparency. Did you? What happened to 4th estate?.
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Only in America? This diligent hospital worker got COVID on the job. Meanwhile, his CEO make 1,000 times what he does. via @nbcnews.
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What did the govt know, when did it know it re Fannie/Freddie comeback when it began profit sweep in 2012?
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Opinion: Wall Street predators destroyed Toys 'R' Us. Now they're coming for Simon & Schuster
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Fresh woes for Wells Fargo: Justice Department weighs in against the bank in a whistle-blower suit
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“When companies aggressively engage with short sellers they lose.” Great story on Musk's use of Twitter as a sword against naysayers. via @WSJ.
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"It feels like a bait and switch." Pet insurance customers sound off on rising premiums at industry leader Trupanion. via @nbcnews.
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Indictments of MiMedx execs come almost exactly 2 years after Sen. Johnny Isakson of Georgia called the FBI to follow up on a complaint from MiMedx about an investor critical of the beleaguered biomedical firm via @WSJ.
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Fantastic report from @rachael_levy on high-level reputation "management." How the 1% Scrubs Its Image Online
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Think drug companies have stopped jacking up prices? Not Lannett, whose execs are laughing all the way to the bank.
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In light of Wells Fargo, why does new Fed guidance recommend bank boards get less info on regulatory missteps?
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Another reason to revere whistleblowers--they correct bad corporate behavior, study shows.
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Exclusive: Meet the man behind the $678 million kickback case against Novartis. "The entire system had to be blown up. I had to do something."
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Bill Ackman's investors want to move on from his big Valeant miss. But there's this matter of a $2 billion lawsuit.
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Patients harmed by private equity investments, Senate report finds.
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Former MiMedx employees on its "growth-at-any-cost" culture. "I still have PTSD," one said. via @WSJ.
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Four years after my reporting outlined these practices: TIAA to pay $97 million for pushing investors into higher-fee accounts via @nbcnews.
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Deja vu all over again? In the wake of bank meltdowns, the Fed draws accusations of lax oversight via @nbcnews.
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Congratulations @JohnCarreyrou for spotting this deception waaaay before regulators did. Great job. via @WSJ.
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"Legitimate government interest"? FBI visits critic of GOP donor after Georgia GOP Senate staffer sent dossier on him to the Bureau. Donor now a convicted felon. via @nbcnews.
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In 2020, Safeway had the most workers receiving SNAP benefits in Washington state. Two years on, wealthy investors in parent Albertsons may get a $4 billion dividend. via @nbcnews.
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ACCOUNTABILITY JOURNALISM: "Nobody has really addressed why it took the Wall Street Journal to notice that McKinsey's retention applications were extremely light on disclosures."
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A veteran Maryland insurance investigator was fired after accusing a financial adviser of unethical actions. His is a cautionary tale of how insurance sales reps are regulated. via @WSJ.
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Read it and recoil. Stupendous reporting on Steve Wynn harassment by @alexandraberzon via @WSJ.
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One California teacher says he has learned the hard way how the deck can be stacked against teachers’ retirement savings via @WSJ.
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Who's minding your mutual fund and its holdings? The downfall of $2 billion Infinity Q is a warning via @nbcnews.
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New woes for Silvergate, big crypto bank flagged by @NBCInvestigates over two months ago. Evaluating its "ability to continue as a "going concern." via @nbcnews.
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Six years ago, Lannett was defiant about raising drug prices. Now it's being delisted by NYSE. @alderlaneeggs
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Charles Grassley Questions Diversion of Fannie and Freddie Earnings http://t.co/GWvPAepNeR.
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