The Huffington Post Investigative Fund - An Independent Nonprofit Journalism Venture

Update: Safety Hazards in Electronic Health Records Should Be Reported, Panel Says

Emma Schwartz — Fri, 12 Mar 2010 19:46:29 +0000

There’s been some movement on the question of what the government should do to make sure electronic health records are safe.

In a conference call meeting Friday, a government advisory panel signaled for the first time that they would support creating a national database and reporting system of patient safety hazards and problems stemming from electronic health records.

“What we’re really saying is we want to make it easy for providers to report unsafe conditions,” said Paul Egerman, co-chair of the panel. Read more »

FDA Asks Hospitals to Report Safety Glitches in Digital Health Systems

Fred Schulte — Thu, 11 Mar 2010 20:24:23 +0000

In Letter to 350 Health Centers, Agency Signals Growing Concern

Concern over safety risks posed by health information technology has led the Food and Drug Administration to step up scrutiny of the products, including digital medical records systems on which the government plans to spend billions of dollars in coming years.

The FDA last month asked a network of 350 hospitals it set up across the country to report data on potential hazards from a range of computer-assisted medical devices, according to an agency document obtained by the Huffington Post Investigative Fund. Read more »

Investigative Fund Profiled

Nick Penniman — Thu, 11 Mar 2010 16:34:03 +0000

We've been operational for about six months now, so the timing of this American Journalism Review profile of us couldn't have been sweeter.

Thanks to all of our supporters, readers and citizen journalists who have helped guide and inform our reporting and spread the word about our work.

Onward!

Additional Authors:

Nick Penniman

Update: Payday Lobby Turns to the Senate

Keith Epstein — Wed, 10 Mar 2010 18:12:39 +0000

Fresh signs surfaced today of the influential payday loan industry's muscle in Washington, where lenders' attempts to stay out of the reach of federal regulators may be bearing fruit in the U.S. Senate.

As the Investigative Fund reported last week, the industry is spending record sums -- about as much on lobbying in 2009 by JP Morgan Chase & Co. Read more »

UPDATE: Wall Street Bonus Tax Fails in Senate

Ben Protess — Tue, 09 Mar 2010 22:51:00 +0000

The Wall Street bonus tax did not survive today in Congress. But its backers insist it may not be altogether dead.

Democratic Sens. Jim Webb of Virginia and Barbara Boxer of California had proposed a one-time 50 percent tax on bonuses of more than $400,000 awarded by the 13 firms receiving the most federal bailout money. Targeted firms included JPMorgan Chase & Co. and Goldman Sachs. Read more »

Hard Times Update: Readers Share Tales of Foreclosure Schemes, Mortgage Misfortune

Amanda Zamora — Tue, 09 Mar 2010 22:34:57 +0000

Last month, we put out a call for stories and photos to help document the effect that "Hard Times Profiteers" are having on distressed borrowers and others suffering financial hardship because of the recession. The response was robust. We received more than 100 tips from borrowers, tenants, real estate brokers, investors and others who have experienced or observed misfortune amid the current housing crisis. We also collected dozens of photos documenting bandit signs from California to Maryland. Read more »

Another Wall Street Bonus Tax Falters in Congress

Ben Protess — Tue, 09 Mar 2010 16:53:37 +0000

Bill Faces Industry Opposition and Skepticism from New York Senators

Editor's Note: The bonus tax failed Tuesday. See full story.

Few topics have generated as much political heat between Main Street and Wall Street as the billions of dollars in bonuses handed out at financial companies that received federal bailouts. But Washington’s efforts to claim some of that money for taxpayers continue to falter.

The latest attempt is a measure authored by Democratic Sens. Jim Webb of Virginia and Barbara Boxer of California. It would impose a one-time 50 percent tax on 2009 bonuses of more than $400,000 paid by the 13 firms receiving the most federal bailout money.

The plan appears to be crumbling amid opposition from two financial industry-lobbying powerhouses and hesitation among moderate Democrats and key New York politicians, including Sen. Charles Schumer. It has little chance of surviving a procedural vote expected late Tuesday, according to legislative aides and industry lobbyists. Read more »

Cities Sue Manufacturer of Weed-Killer Found in Tap Water

Danielle Ivory — Mon, 08 Mar 2010 21:54:48 +0000

Federal Lawsuit Seeks Funding to Remove Atrazine from Water Supply

A coalition of communities in six Midwestern states filed a federal lawsuit Monday seeking to force the manufacturer of a widely-used herbicide to pay for its removal from drinking water. Read more »

Afghan Contractors and the 'Taliban Tax'

Christine Spolar — Mon, 08 Mar 2010 19:21:54 +0000

Delivering the goods in a war zone is risky business. In Afghanistan, it’s work bedeviled by bribes and kickbacks. Read more »

Stimulus To Push Electronic Health Records Could Widen 'Digital Divide'

Fred Schulte — Mon, 08 Mar 2010 18:43:39 +0000

Federal Plan May Leave Behind Small Hospitals and Rural Doctors

A year after Congress agreed to spend billions of dollars to encourage a national switch to electronic health records, many doctors and hospitals have grown skeptical of the pace and details of the plan. Read more »

As Afghanistan Contracting Surges, Who's Following the Money?

Christine Spolar — Wed, 03 Mar 2010 20:02:24 +0000

U.S. Agencies Fail to Coordinate, Inviting Waste and Abuse

Article Lede:

In the past eight years, the United States has allocated $51 billion to rebuild and stabilize Afghanistan. But tracking that money sometimes seems as challenging as finding the leaders of the Taliban. Read more »

Profiting From Recession, Payday Lenders Spend Big to Fight Regulation

Keith Epstein — Tue, 02 Mar 2010 15:05:20 +0000

Industry Steps Up Lobbying as Senate Grapples With Financial Reform

The influential $42 billion-a-year payday lending industry, thriving from a surge in emergency loans to people struggling through the recession, is pouring record sums into lobbying, campaign contributions, and public relations – and getting results. Read more »

Experts: Safety Oversight Needed as Patient Records Go Digital

Fred Schulte — Thu, 25 Feb 2010 22:41:28 +0000

Though electronic health records may greatly improve medical care in the future, the technology poses a host of safety concerns that demand attention to protect patients from harm, witnesses told a government panel meeting in Washington on Thursday.

Safety issues are surfacing as the government tees up a plan to spend billions of dollars in stimulus money to help doctors and hospitals adopt the systems. Digitizing medicine is a high priority in the Obama administration’s campaign to reform health care.
Read more »

VIDEO: FTC Consumer Chief To Fraudsters: 'I Want to Put You in Jail'

Lagan Sebert — Wed, 24 Feb 2010 17:18:51 +0000

As many Americans spiraled deeper into financial disrepair last year, a record number of consumers fell victim to companies seeking to profit from their misfortune, according to the federal governments consumer complaints report released Wednesday. Last year, distressed homeowners became particularly vulnerable to financial rescue schemes, the complaints data show. Companies that, for instance, offer mortgage modifications or foreclosure relief programs generated one consumer complaint in 2008—and nearly 8,000 in 2009.

The Huffington Post Investigative Fund is documenting these schemes in the ongoing series, Hard Times Profiteers. Credit and mortgage schemes are often advertised on roadside signs, according to consumer advocates. If youve seen such an ad, snap a picture and send it to the Investigative Fund. And if you are the victim of a scheme, send the Investigative Fund your story at huffpostfund.org/profiteers.

» Related Story: Consumer Complaints Soar on Mortgage 'Rescue' Schemes

Consumer Complaints Soar on Mortgage 'Rescue' Schemes

Ben Protess — Wed, 24 Feb 2010 16:42:42 +0000

VIDEO: FTC Consumer Chief To Fraudsters: 'I Want to Put You in Jail'

As many Americans sank deeper into financial trouble last year, a record number reported that they fell victim to schemes seeking to profit from their misfortune, according to a federal report released Wednesday. Read more »

FDA Considers Regulating Safety of Electronic Health Systems

Fred Schulte — Wed, 24 Feb 2010 00:03:05 +0000

Reports of Patient Harm Include Six Deaths in Two Years

Concerned about potential safety risks in health information technology, the U.S. Food and Drug Administration may be moving closer to regulating the systems for the first time.

In the past two years, the agency has received reports of six patient deaths and several dozen injuries linked to malfunctions in the systems, Jeffrey Shuren, director of the FDA’s Center for Devices and Radiological Health, said in testimony prepared for a government hearing on Thursday. Read more »

Military Training of Afghan National Police Mired in Contract Dispute

Christine Spolar — Mon, 22 Feb 2010 13:15:19 +0000

Plan to Switch Control from State to Pentagon Delayed Until August

As the war in Afghanistan intensifies, a contract dispute in Washington is interfering with the Obama administration’s plan to rebuild the Afghan national police into a military force with skills to fight the Taliban.

The dispute has left the U.S. government continuing to pay millions of dollars a month to a company that primarily trains recruits as civilian police. Read more »

HARD TIMES PROFITEERS: Help Us Investigate 'Signs of Deception'

Ben Protess — Fri, 19 Feb 2010 02:36:53 +0000

Article Lede:

Drive through most any city in America and the offers will leap out at you: "Repair Your Credit!" "Modify Your Loan!" "Sell Your House Quick!"

The creators of these signs -- Hard Times Profiteers, as we at the Huffington Post Investigative Fund have dubbed them -- are moving to capitalize on the financial troubles of others. They are posting advertisements on walls, street lamps and bus shelters. The ads range from handwritten cardboard cutouts to printed plastic signs. Read more »

Help Us Investigate: Abuses in Student Debt Industry

Ben Protess — Tue, 16 Feb 2010 21:59:10 +0000

We at the Investigative Fund are partnering with a team of graduate students at the Stabile Center for Investigative Journalism at Columbia University. The topic of their investigation is the student lending and debt collection industry, and they are asking for your help: Read more »

Sugar Tax Absent in Childhood Obesity Campaign

Christine Spolar — Tue, 09 Feb 2010 20:15:06 +0000

As First Lady Michelle Obama officially launched her campaign against childhood obesity today, a proposal pushed by some health groups was conspicuous by its absence – a federal tax on sugared drinks. Read more »

VIDEO: Senate Deal on Consumer Agency in Doubt

Ben Protess — Wed, 03 Feb 2010 23:28:53 +0000

Has President Obama’s plan to create a new consumer financial protection agency died on Capitol Hill? That may turn on whether two key senators can make a deal.

Over the last several months, the Investigative Fund has been tracking the agency's topsy turvy journey through Congress. The House in December narrowly approved a bill that would create an independent agency – the CFPA -- to oversee and write rules for consumer credit products such as mortgages and credit cards. Now the Senate Banking Committee is working on its own version of financial regulatory reform. Read more »

Victim of a Real Estate Scheme? Tell Us Your Story

Amanda Zamora — Wed, 03 Feb 2010 16:08:45 +0000

It’s a no-brainer: As people lose their jobs and struggle to pay the mortgage, they are increasingly vulnerable to those looking to make a quick profit off their troubles.

The Huffington Post Investigative Fund would like to shine a light on real estate schemes going on around the country. How widespread are these activities? Who is behind them? And who is getting hurt? Read more »

Additional Authors:

Ben Protess

Lagan Sebert

Shopping for Health Software, Some Doctors Get Buyer’s Remorse

Emma Schwartz — Fri, 29 Jan 2010 21:55:00 +0000

Volatile Industry Prompts Calls for Oversight of Firms’ Financial Strength

Robert Cameron wasn’t much of a technology buff, but the orthopedic surgeon knew he wanted to get rid of all the paper in his nine-physician practice in Pensacola, Fla. So he bought an electronic medical records system from a California-based company called Acermed. Read more »

Congressman to AIG: Show Us Your E-mail

Ben Protess — Fri, 29 Jan 2010 20:09:19 +0000

You might imagine that by now the public would know every last cause and consequence of the government’s $180 billion bailout of insurance giant American International Group. Read more »

Help Track Down Members of Congress Headed to the Super Bowl

Amanda Zamora — Tue, 26 Jan 2010 20:04:55 +0000

In less than two weeks, the New Orleans Saints and the Indianapolis Colts will take to the field for Super Bowl 44. While football fans get ready for the big game, our friends at the nonprofit investigative reporting site ProPublica are looking ahead to another set of potential winners and losers: Congressional candidates gearing up for the November races. Read more »

As Health Files Go Digital, Patients May Spot Unpleasant Surprises

Fred Schulte — Tue, 26 Jan 2010 15:26:17 +0000

Sensitive Questions Arise About Access to Online Medical Data

When Kaiser Permanente started giving patients online access to their medical records nearly five years ago, it offered the same lab reports doctors saw—complete with warning flags highlighting any abnormal results.

The capital letters – such as “H” for “high” -- alarmed many patients. So now the giant health plan has modified the policy for most of its members. It displays lab results in a more neutral way, showing patients how they compare to normal ranges and advising them to contact their health practitioner with any questions. Read more »

Flaws in Iraqi Police Contract Raise Questions About Afghan Effort

Christine Spolar — Mon, 25 Jan 2010 17:53:06 +0000

In a report that offers lessons for the growing war in Afghanistan, the inspector general overseeing Iraqi reconstruction efforts has found major flaws in the State Department’s oversight of a $2.5 billion contract to help build Iraq’s police force. Read more »

FDIC Responds to I-Fund Story on Sheila Bair's Bank of America Mortgages

Investigative Fund Staff — Sat, 23 Jan 2010 00:10:01 +0000

Below is a statement received Jan. 22, 2010, from the Federal Deposit Insurance Corp. regarding the Jan. 21 article by the Huffington Post Investigative Fund about FDIC chair Sheila Bair. Responses from the Investigative Fund are in red. Read more »

FDIC Chief Got Bank of America Loans While Working On Its Rescue

Keith Epstein — Thu, 21 Jan 2010 15:14:17 +0000

Agency Grants Sheila Bair Retroactive Ethics Waiver on Mortgages

Sheila Bair, one of the chief regulators overseeing Bank of America’s federal rescue, took out two mortgages worth more than $1 million from the banking giant last summer during ongoing negotiations about the bank’s bailout and its repayment.

In the weeks between the closings on her two mortgage loans, Bair met with Bank of America’s chief negotiator in the bailout talks. Read more »

FDIC Statement Regarding Sheila Bair's Dealings with Bank of America

Investigative Fund Staff — Thu, 21 Jan 2010 15:10:26 +0000

In response to inquiries from the Huffington Post Investigative Fund about FDIC chair Sheila Bair's dealings with Bank of America, Andrew Gray, Director of the FDIC Office of Public Affairs, provided the following statement on Jan. 15, 2010: Read more »

Electronic Health Records Probe Expands to Hospitals

Fred Schulte — Thu, 21 Jan 2010 01:33:52 +0000

Grassley Inquiry Seeks Details on Possible Flaws with Software

A congressional inquiry into plans for spending billions of dollars in stimulus money on digital medical records is now questioning some of the nation’s most prestigious health care providers about possible safety flaws and other problems with the electronic systems. Read more »

What's Still Hidden in AIG's Files?

Ben Protess — Fri, 15 Jan 2010 19:26:14 +0000

Company Trustees, Lawmakers Resist Calls for More Disclosure

As federal hearings into the cause of the financial crisis got underway this week, attention has focused on one key outstanding question: Whether the giant insurer American International Group committed fraud in the run-up to its $182 billion bailout. Read more »

Hat Tips: Contemplating Journalism Contests of the Future

Nick Penniman — Fri, 08 Jan 2010 17:06:00 +0000

As submission deadlines loom for most of the major journalism awards, we're assessing which of our hats we'd like toss into the various rings. Although we've only been fully operational for about four months now, we feel as if we have much to be proud of. Read more »

Our Joint Project on the Student Lending Industry

Ben Protess — Thu, 07 Jan 2010 19:12:52 +0000

In collaboration with Columbia University’s Stabile Center for Investigative Journalism, we published two articles today about the nonprofit student lending industry.

Students from the Stabile Center, part of Columbia’s Graduate School of Journalism in New York, investigated and wrote the stories. We at the Investigative Fund oversaw the reporting process and edited the work.

The pieces are the first to result from an ongoing project with the Stabile program that will focus on the relationships between financial companies and universities. Read more »

Some Nonprofit Student Lenders Accused of Misconduct

The Investigative Fund — Thu, 07 Jan 2010 19:00:56 +0000

As the cost of college continues to skyrocket, students are increasingly seeking loans from nonprofits—state-based organizations often viewed as an attractive alternative to for-profit lenders synonymous with Wall Street excess.

But some nonprofit student lenders have been dogged, like their for-profit competitors, by allegations of misconduct. Read more »

How Nonprofits Won Special Treatment in Student Lending Bill

The Investigative Fund — Thu, 07 Jan 2010 19:00:36 +0000

This is the first in a series of articles on student lending reported in partnership with the Stabile Center for Investigative Journalism at Columbia University. Read more »

VIDEO: Barney Frank: Consumer Reforms at Risk in Senate

Lagan Sebert — Thu, 07 Jan 2010 16:42:45 +0000

Financial reform legislation faces an uncertain future in the Senate where Republicans stand opposed to creating a new consumer protection agency. Rep. Barney Frank (D-Mass.), who ushered a financial overhaul through the House last month, explains how the agency was tempered in his bill and may not survive the Senate. President Obama has said creating the agency is a must. » Related Story: Dodd’s Departure Could Endanger Potential Consumer Agency Read more »

Dodd’s Departure Could Endanger Potential Consumer Agency

Ben Protess — Thu, 07 Jan 2010 15:18:06 +0000

It’s the question buzzing around Washington and Wall Street this week: Will Sen. Christopher Dodd’s sudden retirement announcement further jeopardize his already thorny task of overhauling the nation’s financial regulatory system?

At risk in particular, some Capitol Hill observers say, may be a proposal to create a new consumer protection agency that President Obama has characterized as a must for financial reform. Read more »

Switch to Electronic Health Records Could Miss Federal Targets

Fred Schulte — Thu, 31 Dec 2009 02:04:40 +0000

Cut in Stimulus Spending Suggests Early Estimates Too Optimistic

Federal health officials said Wednesday they have cut billions of dollars from the projected cost of a program to push doctors and hospitals to use electronic medical records, suggesting their previous estimates overstated the number of health care providers likely to adopt the technology.

The goal to create a digital health record for every American in the next five years was first set under President George W. Bush. The project picked up steam in the Obama administration, which regards it as vital to controlling soaring health care costs. Read more »

Knight Foundation Announces Grant to Investigative Fund

Nick Penniman — Tue, 29 Dec 2009 18:10:02 +0000

We are most pleased to announce that the Knight Foundation has decided to support the Investigative Fund's work with a $200,000 grant. In these difficult times for the commercial news industry, Knight has been instrumental in seeding new ventures in nonprofit investigative journalism. We are honored that they have chosen to join our other funders.

WaMu's Fateful Decision

David Heath — Wed, 23 Dec 2009 19:57:05 +0000

Executives at Washington Mutual made a fateful decision as a white-hot mortgage market turned ice cold in the fall of 2003.

WaMu's chief executive, Kerry Killinger, decided to reignite profits by aggressively pushing the lender’s riskiest but most profitable loans, including the Option ARM and subprime mortgages. Read more »

VIDEO: The Fate of a Subprime Loan: Can This Man Hold On to His Mortgage?

Amanda Zamora — Tue, 22 Dec 2009 15:25:41 +0000

Video Lede:

Eliseo Guardado came legally to the United States in search of his own American Dream. But after he bought his home in a Maryland suburb in 2006, his dream quickly became a nightmare. Long Beach Mortgage, a subsidiary of Washington Mutual, put him in a loan that he could not afford. The story of this one bad loan helps tell a bigger tale- how fraud in the loan process was at the center of the largest bank failure in American history.

Second of two articles about the roots of the subprime lending bubble.

With the housing boom still in full force in early 2006, Long Beach Mortgage Co., one of the nation’s biggest subprime lenders, sent its eager Wall Street investors yet another package containing thousands of new home loans. Read more »

By Christine MacDonald
Special to Huffington Post Investigative Fund

VIDEO: William K. Black's Theory of Corporate Fraud

Lagan Sebert — Mon, 21 Dec 2009 15:41:13 +0000

William K. Black is a former senior deputy chief counsel at the federal Office of Thrift Supervision. During the savings and loan crisis of the late 1980s Black investigated accounting fraud. He spoke with Huffington Post Senior Reporter David Heath about how fraud can infiltrate entire corporations. » Related Story: At Top Subprime Mortgage Lender, Policies Were Invitation to Fraud Read more »

At Top Subprime Mortgage Lender, Policies Were Invitation to Fraud

David Heath — Mon, 21 Dec 2009 15:20:36 +0000

Long Beach Mortgage Employees Say Firm Routinely Ignored Warnings

First of two articles about the roots of the subprime lending bubble.

Diane Kosch had one of the most thankless jobs in the subprime lending craze.

Sitting elbow to elbow with colleagues at a conference table in a northern California office building, Kosch’s job was to review a huge stack of loans each day at Long Beach Mortgage for problems, including evidence of fraud. She was given 15 minutes per file. Read more »

Update: A Guide to Financial Regulatory Reform Proposals

Ben Protess — Fri, 18 Dec 2009 23:36:26 +0000

Now that the House has passed Rep. Barney Frank’s overhaul of U.S. financial regulations, we’ve decided to update our handy chart that details the bill’s approach to key problem areas in the financial system.

In the days before the House voted last Friday, leading Democrats tinkered with the bill, ultimately producing some significant changes. Read more »

VIDEO: Barney Frank: Why Credit Raters 'Don't Like' My Bill

Lagan Sebert — Fri, 18 Dec 2009 20:59:06 +0000

After nearly a year of debate, the U.S. House passed an historic overhaul of the nation's financial system last week. Financial Services Chairman Barney Frank (D-Mass.) cracked down on the credit rating industry, which gave top grades to toxic investments at the core of the financial crisis. » Related Story: Barney Frank vs. the Credit Raters Read more »

Barney Frank vs. the Credit Raters

Ben Protess — Fri, 18 Dec 2009 19:02:37 +0000

Financial Services Chair Got Tough Measures Passed, Some Want Tougher

After deftly dodging federal regulation for years, the nation’s top credit rating companies now must get past the formidable Barney Frank.

Last week, as the U.S. House debated the Wall Street reform package crafted largely by Frank, the Massachusetts Democrat quietly slipped regulations into the bill that would force the most significant overhaul of the credit rating industry to date. Read more »

Daschle Had Public and Private Role in Push for Digital Health Records

Fred Schulte — Tue, 15 Dec 2009 21:11:32 +0000

In the government’s campaign to bring medical care into the digital age, former Senate Majority Leader Tom Daschle has served as a key advisor to President Obama and a consultant to the health-care industry—doing both within the space of a few months.

Daschle, as Obama’s first choice to head the Department of Health and Human Services last year, was a forceful advocate for using billions of dollars in economic stimulus money to help doctors and hospitals buy electronic medical records systems. Read more »

How One Bank Failure Illustrates Lapses by Regulators

Keith Epstein — Mon, 14 Dec 2009 20:25:41 +0000

Overseers of Florida Bank Noted Risky Lending But Failed to Act

Article Lede:

Stalled real estate developments have transformed the once-pastoral landscapes around Ocala, Fla. MORE PHOTOS: For Banks and Builders: First Bonanza, Then Bust (U.S. Geological Survey/Google Earth)

Even by the distorted standards of the national housing bubble, north central Florida was a hot market. Between 2004 and 2006 new houses and property markers spread across cow pastures and horse farms, their values soaring so fast that bankers and builders could hardly believe their good timing, or keep up with the workload. Read more »

'No Place for Quiet Truth'

Nick Penniman — Mon, 14 Dec 2009 19:18:39 +0000

Some of us here have had the pleasure of working with Bill Moyers in the past few years (and the Schumann Center for Media and Democracy, which Bill heads, is one of our funders). This commentary about him, by Neal Gabler in the LA Times, beautifully states what many of us here felt when Moyers recently announced that he was mothballing his weekly TV show: Read more »

Follow Up: SEC and Justice Looking Into Credit Raters

Ben Protess — Thu, 10 Dec 2009 23:30:42 +0000

Two federal agencies have acknowledged that they are investigating whether the nation’s top credit rating companies committed fraud in the run-up to the financial crisis.

Officials from the Securities and Exchange Commission’s enforcement division and the U.S. Justice Department said at a Senate Judiciary Committee hearing Wednesday that the raters are under examination for awarding inflated grades to toxic investments at the center of the financial crisis. The raters are already facing investigations from state attorneys general in California, Ohio and Connecticut. Read more »

Financial Reform Moves Forward, With Many Loopholes

Rachel Leven — Thu, 10 Dec 2009 20:20:33 +0000

Chart: How House and Senate Plans Compare on Key Issues

As Congress inches toward restructuring U.S. financial regulation, lawmakers in the House and Senate have characterized their respective bills as sweeping and historic.

But proposals focused on consumer protection, privately-negotiated derivatives and credit rating agencies still allow broad exemptions for key players in the financial system. The Huffington Post Investigative Fund reviewed both reform packages and assembled a chart that compares the bills—and their loopholes. Read more »

VIDEO: Congressman: Raters Helped Create Products they Rated

Lagan Sebert — Mon, 07 Dec 2009 20:51:03 +0000

Rep. Edolphus Towns, Chairman of the House Committee on Oversight and Government Reform, has led an investigation into the role the nation's largest credit rating companies played in the financial crisis. He says some raters were involved in helping create the same products they rated, and should therefore be held to a higher standard of liability. If it is proven that the credit raters were in fact grading their own work, it could affect the outcomes of dozens of investor lawsuits against credit raters worth billions. » Related Story: Courts Examine Credit Raters' 'Intimate' Relationship With Bankers Read more »

Follow Up: Michigan Insurance Plan Raises Prosthetics Coverage

Danielle Ivory — Fri, 04 Dec 2009 23:16:25 +0000

Even better news today in the case of the 12-year-old Michigan boy who initially was denied insurance coverage for his new $30,000 prosthetic arm.

The Investigative Fund has been covering Benjamin French’s story for a few weeks, which has resulted in additional media attention for the French family and a mention on the floor of the Senate by Sen. Debbie Stabenow (D-Mich.) Read more »

Courts Examine Credit Raters' 'Intimate' Relationship With Bankers

Ben Protess — Fri, 04 Dec 2009 20:51:52 +0000

Documents Provide Window Into Raters' Role in Structured Finance

Editor’s Note: This is the last of three articles by the Investigative Fund on the credit rating companies.

A decade ago, the nation’s largest credit-rating companies developed a new line of business that boosted their profits and sent them on a hiring spree. They began rating complex investments that featured large packages of bonds sometimes based on subprime mortgages. Read more »

Investigative Fund Seeks A Few Good Interns

Amanda Zamora — Fri, 04 Dec 2009 20:02:26 +0000

The Huffington Post Investigative Fund has openings this spring for journalism students who are eligible for academic credit for unpaid internships. We’re looking for young people with a strong interest in working on a new model for investigative journalism that melds the best of traditional media with the tools of the Web.

Candidates should have excellent academic credentials as well as some experience in reporting and/or multimedia production, and be able to work about 15 hours a week. Available positions include: Read more »

In Reversal, Insurance Plan Will Cover Boy's Prosthetic Arm

Danielle Ivory — Wed, 02 Dec 2009 19:34:26 +0000

[This story was updated Dec. 3, 2009. See editor's note.]

A Michigan health insurance plan will make a one-time exception and cover a $30,000 prosthetic arm for a 12-year-old boy after his denied claim became a national story cited during the Senate health care debate. Read more »

Our Partners in Journalism

Nick Penniman — Wed, 02 Dec 2009 17:33:34 +0000

An interesting recent piece in the Chicago Reader details Mother Jones' efforts to create an ongoing reporting collaborative that will collectively cover climate change. Salon, Slate, The Atlantic and others are considering playing along.

It's a noble and worthy effort. In a media world with so few resources and such risk of redundancy, these types of collaborations will help forge a new future for enterprise and investigative reporting. Read more »

Follow Up: Troubling Numbers on Commercial Real Estate

Christine Spolar — Tue, 01 Dec 2009 23:55:00 +0000

A new industry analysis today shows that the default rate on U.S. commercial real estate loans jumped to the highest level in 16 years.

As the Investigative Fund reported last week, the problems in commercial real estate are threatening hundreds of small and medium-sized banks because the oversupply means developers can’t fill their “zombie” buildings and pay back their loans. Read more »

VIDEO: How the Cleveland Clinic Went Digital

Emma Schwartz — Tue, 01 Dec 2009 19:05:51 +0000

The Cleveland Clinic has been a leader in developing a digital medical record system. Now the Obama administration wants to replicate this model in hospitals across the country with an investment of $45 billion in stimulus funds. But Cleveland may not be an easy model to follow.» Related Story: Can Cleveland Clinic Be a Model for Digital Medicine?

Can Cleveland Clinic Be a Model for Digital Medicine?

Emma Schwartz — Tue, 01 Dec 2009 18:50:36 +0000

Hospital’s Success With Electronic Records Raises Hope and Caution

CLEVELAND—When Albert Giuliani wakes up each morning, he steps on a scale, takes his blood pressure and pricks his finger to test his sugar levels. Though he’s lived with diabetes and hypertension for decades, he no longer has to bother with pen and paper. The results are automatically uploaded to an electronic record that he and his doctor at the Cleveland Clinic can check anytime. Read more »

Switch to Electronic Records Getting Mixed Reviews at Hospitals and Clinics

Fred Schulte — Tue, 24 Nov 2009 15:00:18 +0000

Scattered Reports of Software Glitches That Caused Risk to Patients

More than five years ago, one of California’s leading hospitals decided to leap into the future of medical care by digitizing its patients’ health records. Despite a $50 million investment and countless hours trying to overcome persistent technical headaches, the system is still not fully up and running.

This summer, the University of California San Francisco Medical Center quietly wrote off more than a third of the money it has spent, terminated its contractor and prepared to start part of the project from scratch. Read more »

Follow Up: A Story Inspired by Citizen Journalists Lands in Senate Health Care Debate

Amanda Zamora — Mon, 23 Nov 2009 20:42:37 +0000

Last week, Investigative Fund reporter Danielle Ivory brought you the story of 12-year-old Benjamin French and his family’s inability to pay for his $30,000 prosthetic arm. Read more »

I-Fund's Fred Schulte On NPR

Nick Penniman — Mon, 23 Nov 2009 16:48:39 +0000

Our senior investigative reporter, Fred Schulte, appeared on NPR to discuss the digitizing of medical records with Weekend Edition's Scott Simon, detailing how major technology firms are competing to win contracts. As Schulte explained: Read more »

VIDEO: Are 'Zombie Buildings' the Next Economic Calamity?

Lagan Sebert — Fri, 20 Nov 2009 19:05:16 +0000

While the overall U.S. financial system is showing signs of stability, a rapidly rising tide of troubled loans for commercial real estate threatens the survival of hundreds of the nation’s small and medium-sized banks. Read more »

VIDEO: Are 'Zombie Buildings' the Next Economic Calamity?

Christine Spolar — Fri, 20 Nov 2009 16:55:30 +0000

Bad Loans for Commercial Real Estate Threaten Regional and Community Banks

Article Lede:

Survey: Hospitals Not Protecting Electronic Health Records

Fred Schulte — Thu, 19 Nov 2009 22:25:23 +0000

One-Third of Institutions Acknowledge Cases of Medical Identity Theft

Despite new federal laws to protect the privacy of medical files, many hospitals are ill-prepared to prevent security breaches that may result in patient records being stolen, lost or misused, a new survey shows.

Three in four hospitals and health organizations said medical records of patients had been put at risk of improper disclosure “due to inadequate security controls, policies or procedures,” according to the survey released Thursday at a meeting of government health information planners in Washington. Read more »

Federal Regulator Gets Derivatives Advice From Industry Insiders

Keith Epstein — Wed, 18 Nov 2009 20:15:36 +0000

Advisory Group to Commodities Commission Dominated by Finance Lobbyists, Execs

Like many federal agencies contemplating reform these days, the Commodities Futures Trading Commission is hearing a lot from the industry it regulates.

But executives and lobbyists don’t always have to knock on the commission’s door. Some are already inside. Read more »

For 12-Year-Old Without an Arm, Insurance Has Run Out

Danielle Ivory — Mon, 16 Nov 2009 22:31:40 +0000

State Rules Vary Widely on Prosthetics and Other Health Needs

Benjamin French was born with his right arm missing below the elbow. In his 12 years, he has been fitted with seven prostheses. His most recent replacement will cost nearly $30,000 and his doctor says he will soon grow out of it.

But, according to his insurance company, the boy is ineligible for further coverage of prosthetic devices because he has already spent his lifetime maximum benefit. Read more »

Follow Up: FHA Blames Woes on Home Loans From Nonprofits

Amanda Zamora — Mon, 16 Nov 2009 21:20:15 +0000

News that the Federal Housing Administration’s capital reserves have dipped to $3.6 billion generated a spate of alarming headlines last week. But few focused on one aspect of the problem: the role nonprofits played in generating at least $1 billion in losses for the FHA insurance fund. Read more »

Health Industry Winning Round on Privacy of Digital Health Records

Emma Schwartz — Fri, 13 Nov 2009 21:02:23 +0000

Regulators Limit When Patients Must Learn of a Breach

Lobbyists for the health industry are close to a victory over consumer groups in a dispute about when patients should be told their digital medical records have been lost, stolen or mishandled. Read more »

VIDEO: Will Credit Raters Dodge Change...Again?

Lagan Sebert — Wed, 11 Nov 2009 20:13:14 +0000

Although the nations largest credit rating companies are blamed for underestimating much of the risk that led to the financial crisis, so far they have dodged any significant consequences. Investors lost billions of dollars on bonds awarded top ratings by Moodys, Standard & Poors and Fitch, and now Congress wants answers. But will Washington really demand change and hold the raters accountable? Read more »

How Credit Raters Fended Off Oversight From Congress and SEC

Ben Protess — Wed, 11 Nov 2009 19:49:16 +0000

Editor’s Note: This is the second of three articles by the Investigative Fund on the credit rating companies. Read the first article here.

When the nation’s top credit rating companies came under attack in Washington in recent years, Charles E. Schumer often emerged as their strongest ally. Read more »

Stimulus Fuels Gold Rush For Electronic Health Systems

Fred Schulte — Thu, 05 Nov 2009 18:29:06 +0000

Competition Among Companies Spawns Bus Tour, Creative Sales Techniques

The government’s $45 billion plan to jump-start a national shift to electronic medical records has touched off a gold rush among scores of technology firms – even as many experts question whether the benefits of the products are being oversold. Read more »

As Soda Tax Bubbles Up, Food Lobby Mobilizes

Christine Spolar — Wed, 04 Nov 2009 18:25:45 +0000

Industry Groups Spent More than $24 Million This Year to Sway Lawmakers

Washington lobbyists have been enjoying a multi-million-dollar sugar rush from the food industry.

Soft drink makers, supermarket companies, agriculture and the fast-food business have poured millions into campaigning against what they fear could be a burgeoning national movement to raise money for health care reform by taxing sweetened beverages. Read more »

When Banks Fail, So Do Those Promised CD Rates

Keith Epstein — Tue, 03 Nov 2009 18:21:36 +0000

FDIC Allows New Owners to Slash Interest Payments on Deposits

Norma Jean Scott, a 63-year-old Alabama retiree, thought she was being prudent three years ago when she stashed her $100,000 retirement nest egg in a pair of certificates of deposit. Her bank, CapitalSouth, promised her 5.7 percent interest for five years.

“I thought that was in concrete,” she said, “and backed by my government.”

But then CapitalSouth collapsed and the government brokered a deal to sell its business to another institution -- Louisiana-based IberiaBank.

The bank’s new owner promptly cut Scott’s interest rate – to 1.6 percent. Read more »

Government Pushes to Create a New Health Internet

Fred Schulte — Fri, 30 Oct 2009 16:16:21 +0000

Officials Hope Millions Will Put Their Medical Records Online

Hoping to provide the backbone for a grand plan to put the nation’s medical records online, federal officials have been quietly retooling an obscure government data-sharing service into a robust new Health Internet.

The concept has drawn intense interest from technology firms, including Microsoft and Google, which are scrambling to find new—and profitable—uses for digital medical records and the cyber health-care services they are starting to spawn. Read more »

VIDEO: Lawyer for Credit Rater: We're Protected by First Amendment

Lagan Sebert — Wed, 28 Oct 2009 22:32:44 +0000

The nation's biggest credit rating agencies are facing blame for underestimating the risk that led to the financial crisis. Floyd Abrams is a renowned First Amendment lawyer who has represented the credit rating agency Standard and Poor's for more than 20 years. Abrams, who made his name defending the New York Times in its landmark Pentagon Papers case, told the Huffington Post Investigative Fund in an interview that raters are entitled to free-speech protections similar to those given to journalists. He is using the argument to defend S&P in billions of dollars worth of lawsuits. » Related Story: Under Attack, Credit Raters Turn to 1st Amendment Read more »

Under Attack, Credit Raters Turn to the First Amendment

Ben Protess — Wed, 28 Oct 2009 21:57:50 +0000

Editor's note: This is the first of three articles by the Investigative Fund on the credit rating companies.

For two decades, the nation’s top credit rating agencies have managed to fend off a crackdown from Washington by relying on a surprising ally – the First Amendment. Read more »

Major Gaps in Oversight of Human Medical Research

Jeanne Lenzer — Wed, 28 Oct 2009 19:02:18 +0000

Columbia Hospital Case a Cautionary Tale

Ten years ago, an 18-year-old student named Jesse Gelsinger died during a medical research trial involving gene therapy at the University of Pennsylvania. The teenager’s death, caused by a violent immune reaction to an injection, triggered a federal inquiry, a review of human protection standards in clinical trials and, ultimately, tougher national standards for patient consent. Read more »

The Good News From Our Citizen Journalism Project

Adam Clark Estes — Mon, 26 Oct 2009 23:01:07 +0000

One of the big questions in the debate over the future of journalism is whether the Internet can foster a new alliance between professional reporters and citizens who have a high interest or expertise in a particular topic.

Here at the Huffington Post Investigative Fund, we’re seeing signs that the answer is yes. Read more »

VIDEO: Consumer Agency Gains, But Foes Remain

Amanda Zamora — Thu, 22 Oct 2009 17:56:39 +0000

The Obama administration’s plan for a new regulatory agency to protect consumers has cleared a major legislative hurdle – but it still faces strong opposition from Republicans, business interests and some federal regulators. Read more »

VIDEO: When Patients are Denied: The Battle Over Mental Health Benefits For Sexual Assault Victims

Lagan Sebert — Wed, 21 Oct 2009 18:53:03 +0000

Some therapists and patients contend that insurance companies have been routinely denying coverage for sexual assault victims requesting long-term mental health services. Stories of how victims of sexual assault can get tangled in the health insurance system have been one result of the Huffington Post Investigative Fund's citizen journalism project, which is calling on readers to provide information and anecdotes about the inner workings of the insurance industry.
» Related Story: Rape Victim's Choice: Risk AIDS or Health Insurance? Read more »

Rape Victim's Choice: Risk AIDS or Health Insurance?

Danielle Ivory — Wed, 21 Oct 2009 17:38:50 +0000

Women Who Are Attacked Can Get Tangled in the Insurance System

Christina Turner feared that she might have been sexually assaulted after two men slipped her a knockout drug. She thought she was taking proper precautions when her doctor prescribed a month’s worth of anti-AIDS medicine.

Only later did she learn that she had made herself all but uninsurable. Read more »

Fuzzy Math? Rising Costs in Government's Digital Health Stimulus

Fred Schulte — Thu, 15 Oct 2009 17:01:03 +0000

Spending Could Be Double The Obama Administration's Public Estimate of $19 Billion

Creating digital medical records for every American within the next five years – a key provision of President Obama’s stimulus package -- could cost more than twice the $19.5 billion figure that has been cited by federal officials.

Federal budget documents show that actual spending for the plan, which will use stimulus money to help doctors and hospitals defray the cost of installing high-tech records systems, could hit nearly $47 billion. Read more »

In Reversal of Bush Policy, EPA Launches New Study of Atrazine’s Health Effects

Danielle Ivory — Wed, 07 Oct 2009 20:59:47 +0000

The Environmental Protection Agency today reversed its stance on the potential hazards of atrazine, one of the most commonly-used herbicides in the country, saying it will re-examine how the chemical affects human health.

EPA officials said in a statement that the agency will take a close look at the weed-killer’s potential to cause cancer, as well as birth defects, low birth weight, and premature births. Agency scientists also will conduct research for the first time examining whether atrazine interferes with the hormone and reproductive systems of humans and amphibians. Read more »

VIDEO: Seven Questions for CFTC Chief Gensler -- He Sees Continuing Vulnerabilities in Derivatives

Lagan Sebert — Wed, 07 Oct 2009 20:14:28 +0000

Gary Gensler, the top regulator of the commodities markets, sees the U.S. financial system still “vulnerable” to the murky world of privately negotiated derivatives. As chairman of the CFTC, Gensler wants to comprehensively oversee the trading of these complex financial contracts for the first time.
» Related Story: Once a Toothless Regulator, CFTC Now Wants Obama’s Derivatives Bill Strengthened

Top Derivatives Regulator: 'We Haven’t Filled the Gaps'

Ben Protess — Wed, 07 Oct 2009 19:06:27 +0000

Gary Gensler, the top regulator of the commodities markets, sees the U.S. financial system still “vulnerable” to the murky world of privately negotiated derivatives.

As chairman of the U.S. Commodities Futures Trading Commission (CFTC), Gensler wants to comprehensively oversee the trading of these complex financial contracts for the first time.
Read more »

Government Orders Columbia to Tell Patients 'True Nature' of Drug Study

Jeanne Lenzer — Wed, 07 Oct 2009 14:59:25 +0000

Officials Say Research May Have Caused Harm to People Who Had Heart Surgery

NEW YORK -- The man who would be known as Patient No. 1 emerged from routine open-heart surgery at Columbia University Medical Center in stable condition. Then he began to bleed uncontrollably. Surgeons rushed him back to the operating room to reopen his chest, but by the time they could stop the hemorrhaging, Patient No. 1 was barely breathing and in a coma.

On Aug. 15, 2000, shortly before he was discharged on his way to a nursing home, a physician wrote a terse final diagnosis in his chart: “Medical disaster.” Read more »

Home Loans Brokered by Nonprofits Helped Fuel the Housing Crisis

Jeff Horwitz — Thu, 01 Oct 2009 14:22:52 +0000

Billions of Dollars in Defaults on No-Money-Down Mortgages Weigh on FHA's Books

Before the housing boom got underway in the late 1990s, a California nonprofit group hatched an idea to help families who qualified for government-backed mortgages but still couldn’t raise the down payment. Read more »

VIDEO: As Pundit and Advocate, Dick Morris Targets Seniors in Health Care Debate

Lagan Sebert — Fri, 25 Sep 2009 15:43:41 +0000

The history of an ad written by political commentator Dick Morris -- one of dozens of health care spots making the rounds -- shows how a quickly assembled group with uncertain origins and funding can make a mark on one of the most contentious public policy debates in memory.
» Related Story: Anatomy of an Attack Ad Read more »

VIDEO: Seven Questions for TARP IG Neil Barofsky -- U.S. May Be In a 'Far More Dangerous' Situation

Christine Spolar — Fri, 25 Sep 2009 15:22:01 +0000

Neil Barofsky is the man who tracks the historic bailout known as the Troubled Asset Relief Program, or TARP. The 39-year-old special inspector general monitors a dozen separate bailout-related programs that now account for nearly $3 trillion in financial commitments. A former federal prosecutor, Barofsky has subpoena power and has launched about three dozen investigations since being named to the post in December 2008. In an audit released in July, Barofsky made clear that he was intent on demanding transparency from all quarters -- including the U.S. Treasury. Read more »

Anatomy of an Attack Ad

Ben Protess — Thu, 24 Sep 2009 20:40:38 +0000

How Dick Morris Is Making Seniors Feverish About Health Care Reform

Standing in a medical exam room, a neurosurgeon in a white lab coat stares solemnly into the camera and warns that President Obama’s health care plan “will hurt our seniors” and “end Medicare as we know it.” Two networks, NBC and ABC, declined to run the 30-second ad, but it has probably reached millions of people on Fox, CBS and local stations as well as on the Web. Read more »

Join Our Investigation: How Often Do Health Insurers Deny Claims?

Adam Clark Estes — Fri, 18 Sep 2009 19:52:01 +0000

Amid all the loud arguments about the proper role for government and private companies in American health care, one point often seems lost: Exactly how well – or badly – are private insurers handling claims in the existing system? Daniellle Ivory is uncovering some answers. Read more »

VIDEO: Kucinich Grills Insurance Execs on Claim Denials

Sabrina Sieck — Fri, 18 Sep 2009 18:41:00 +0000

Are health insurance companies generally being fair and honest when they reject claims from policy holders? That would seem to be an important question in deciding how best to fix the U.S. health system. But it hasnt been a focus of the raging health-care debate -- possibly because the answer is not publicly available. At a recent House hearing, Rep. Dennis J. Kucinich (D-Ohio) questions executives of six of the nation's largest health insurers about claims denials.
» Related Story: In Health Care, Number of Claims Denied Remains a Mystery

In Health Care, Number of Claims Denied Remains a Mystery

Danielle Ivory — Fri, 18 Sep 2009 18:33:02 +0000

Are health insurance companies generally being fair and honest when they reject claims from policy holders?

That would seem to be an important question in deciding how best to fix the U.S. health system. But it hasn’t been a focus of the raging health-care debate -- possibly because the answer is not publicly available.

“This is one of the dark corners of the black box that is private health insurance,” said Karen Pollitz, a professor at the Georgetown University Health Policy Institute. Read more »

Business Groups Step Up Campaign to Block Obama's Consumer Agency

Christine Spolar — Tue, 15 Sep 2009 23:15:04 +0000

A new federal consumer protection agency is emerging as the centerpiece of the Obama administration’s financial reforms, prompting banking companies and the U.S. Chamber of Commerce to step up their campaign to kill the idea. Read more »

Report: SEC Watchdog Investigating Bank of America Fine

Ben Protess — Fri, 11 Sep 2009 17:51:53 +0000

If you’ve been following Bank of America’s contradictory statements about whether it tracks its spending of $45 billion in taxpayer dollars, Bloomberg has a story today that might interest you. The gist is that the Security and Exchange Commission’s internal watchdog is examining the way the commission is handling investigations of banks, including Bank of America, that have received bailout funds. Read more »

Government Bans Robocalls? Not So Much

Ben Protess — Thu, 10 Sep 2009 19:37:37 +0000

It’s dinnertime, the phone rings and it might be someone important. Instead, you hear a recorded voice: “Congratulations! You’ve been pre-approved for a new mortgage!”

The good news is that after years of complaints from consumers, the Federal Trade Commission has now banned telemarketing pitches known as robocalls unless consumers pre-approve of them in writing. The bad news: You might still be badgered by mortgage lenders and some other telemarketers.
Read more »

Energy Projects Lag in Stimulus Spending

Gary Cohn — Thu, 10 Sep 2009 18:53:15 +0000

President Obama has pledged to transform the nation’s energy policy and has made renewable energy a cornerstone of the $787 billion stimulus package, but so far the money for energy-related projects has been slow to leave Washington. Read more »

VIDEO: Frank May Revive Foreclosure Relief Bill

Lagan Sebert — Wed, 09 Sep 2009 19:09:00 +0000

Mounting evidence that the housing foreclosure crisis is only picking up steam prompted House Financial Services chairman Barney Frank today to warn again that he might revive a proposal to change bankruptcy rules. Frank, (D-Mass.), last spring tried unsuccessfully to push through a foreclosure relief bill known as cramdown, which would have allowed federal judges to lower mortgage payments and interest rates for bankrupt homeowners facing foreclosure. Read more »

Video: Barney Frank Says Why 'Cramdown' Stands Better Chance Now

Lagan Sebert — Wed, 09 Sep 2009 19:08:03 +0000

Mounting evidence that the housing foreclosure crisis is only picking up steam prompted House Financial Services chairman Barney Frank today to warn again that he might revive a proposal to change bankruptcy rules.

Frank, (D-Ma), last spring tried unsuccessfully to push through a foreclosure relief bill known as cramdown, which would have allowed federal judges to lower mortgage payments and interest rates for bankrupt homeowners facing foreclosure.
Read more »

EPA's Failure to Publicize Drinking Water Data Prompts Rethinking in Agency, Congress

Danielle Ivory — Fri, 04 Sep 2009 23:55:56 +0000

There is some evidence that Congress -- and the Environmental Protection Agency -- are rethinking their policies on a commonly used weed-killer after disclosures that the EPA failed to notify the public about high levels of the herbicide in drinking water. Read more »

A Crowd's Take on the Health Care Revolving Door

Adam Clark Estes — Fri, 04 Sep 2009 22:47:07 +0000

Earlier this summer, The Washington Post published an eye-catching analysis of the revolving door between Congress and the health industry. The newspaper estimated that at least 350 former staffers and members of Congress are now lobbying their former Capitol Hill colleagues on legislation to change the health care system. Read more »

Congressman Still Awaits Answer from Bank of America on Bailout

Ben Protess — Fri, 04 Sep 2009 16:00:31 +0000

Bank of America, the nation’s largest bank, has told Congress and the Treasury Department that it can’t track how it spends $45 billion in taxpayer funds.
Read more »

Treasury and Bailout IG Settle One Dispute, But Others Remain

Ben Protess — Thu, 03 Sep 2009 23:45:42 +0000

The Treasury Department may have backed down from a squabble over the independence of the agency that Congress set up as watchdog of the government’s $700 billion bailout. But Treasury remains at odds with the watchdog over another key oversight issue: whether to track how bailed-out banks are spending their taxpayer dollars.
Read more »

Herbicide Maker Asks that Lobbying be Excluded from Class Action Lawsuit

Danielle Ivory — Tue, 01 Sep 2009 23:36:48 +0000

Lawyers representing the maker of the herbicide atrazine are asking that documents related to the company’s lobbying and trade association activities be excluded from a class action lawsuit being filed by some Illinois water utilities. Read more »

Welcome To Our New Site!

Nick Penniman — Fri, 28 Aug 2009 16:00:00 +0000

Welcome to the Huffington Post Investigative Fund's new Web site.

We are a new nonprofit online venture based in Washington, D.C. Our staff reporters and contributing writers aim to merge the classic watchdog function of the press with the best tools of new media. As financial pressures decimate the investigative reporting ranks at newspapers, magazines and TV stations, we are joining the movement to build new structures and ways of doing investigative journalism. Read more »

Drop in FDIC Fund a Problem, But Not Panic Worthy

Ben Protess — Fri, 28 Aug 2009 15:19:06 +0000

You may have seen the startling news yesterday: The Federal Deposit Insurance Corp. reported that its insurance fund, which essentially protects bank deposits from disappearing, dropped to its lowest level in nearly 16 years. Read more »

Checking Your Water for Atrazine

Danielle Ivory — Thu, 27 Aug 2009 17:11:25 +0000

The Environmental Protection Agency recommends that you ask your local water utility for its annual drinking water report if you are concerned about the levels of atrazine in your water. But, as we pointed out this weekend, these reports are not entirely reliable when it comes to the herbicide. Read more »

Water Utilities Lack Proper Filters for Weed-Killer

Danielle Ivory — Thu, 27 Aug 2009 13:11:00 +0000

Results from a federal drinking water monitoring program show that many public water companies are ineffective at removing a widely used weed-killer from their water supplies. Read more »

FDIC Softens its Proposed Rules for Buying Banks

Ben Protess — Wed, 26 Aug 2009 23:24:35 +0000

As we expected, the board of the Federal Deposit Insurance Corp. today approved controversial rules that will govern how risk-taking private equity firms can snatch up failing banks. Read more »

Interrogation Guidelines Were Reality for Iraqi General

Ben Protess — Wed, 26 Aug 2009 21:51:27 +0000

Now that the CIA’s secret guidelines for interrogating suspected al-Qaeda operatives have been made public, the world has a better understanding of the bureaucratic side of the debate over detainee abuse under the Bush administration. Read more »

Geithner Moves to New Home, But Some Question His Temporary Digs

Philip Shenon — Wed, 26 Aug 2009 20:40:00 +0000

Treasury Secretary Timothy Geithner has finally moved into a permanent home after eight months in Washington, leaving behind some lingering questions about the rent-free arrangement he enjoyed with a college friend who was a former Wall Street executive and now a top official at a major international lender. Read more »

Judge Keeps Heat on Bank of America and SEC

Ben Protess — Wed, 26 Aug 2009 19:09:19 +0000

We reported yesterday that Bank of America, the nation’s largest bank, told conflicting stories to lawmakers, regulators and a federal judge about whether it tracks its spending of $45 billion in bailout funds.

Now we’re looking at the demands of the federal judge who was told one of those stories and will decide a $33-million court settlement between the SEC and Bank of America over executive payouts. Read more »

From Bank of America, Two Different Stories About Tracking Bailout Funds

Ben Protess — Tue, 25 Aug 2009 17:10:00 +0000

Is Bank of America, the nation’s largest bank, tracking how it spends $45 billion in taxpayer funds?

That depends on which Bank of America statement you believe.

The bank told the Treasury Department in May that it couldn’t follow the money it received through the government’s $700 billion bailout program because those funds “are part of our operating capital” and “cannot effectively be segregated.” Read more »

Huff Fund on TV

Ben Protess — Tue, 25 Aug 2009 17:06:11 +0000

Huffington Post Investigative Fund reporter Danielle Ivory appeared this morning on the TV program “Democracy Now” to discuss her investigation of the Environmental Protection Agency’s failure to inform the public that some drinking water in four states is laced with high levels of the weed-killer atrazine. Read more »

Will FDIC Go Soft on Private Firms Buying Failed Banks?

Ben Protess — Tue, 25 Aug 2009 15:36:48 +0000

As we noted last week, with bank failures at their highest level in 17 years, the FDIC’s insurance fund, which protects bank deposits from disappearing, is in danger of disappearing itself.

So far this year, the FDIC has shut down 81 banks, shrinking the insurance fund to $13 billion, down from $52.8 billion a year ago. Read more »

Check Out Our Atrazine Resources: New EPA Data, Our Video and NRDC Report

Danielle Ivory — Mon, 24 Aug 2009 21:43:29 +0000

As we reported yesterday, the Environmental Protection Agency has been collecting data that shows people are drinking water laced with high levels of a weed-killer called atrazine.

But the EPA does not publish that data. (We obtained it through a Freedom of Information Act request.)

Since we have it, we’re publishing the raw data set ourselves. Now you’ll be able to search atrazine levels for about 150 community watersheds in ten states from 2003 to 2008. Read more »

VIDEO: Weed-Killer in the Water: How Safe is Atrazine?

Lagan Sebert — Mon, 24 Aug 2009 01:49:30 +0000

One of the nation's most widely-used herbicides has been found to exceed federal safety limits in drinking water in four states, but water customers have not been told and the Environmental Protection Agency has not published the results. American News Project producer Harry Hanbury contributed to this report.
» Related Story: EPA Fails to Inform Public About Weed-Killer in Drinking Water Read more »

EPA Fails to Inform Public About Weed-Killer in Drinking Water

Danielle Ivory — Sun, 23 Aug 2009 20:00:09 +0000

One of the nation’s most widely-used herbicides has been found to exceed federal safety limits in drinking water in four states, but water customers have not been told and the Environmental Protection Agency has not published the results. Read more »

Could the FDIC Fund Go Broke?

Ben Protess — Fri, 21 Aug 2009 16:18:09 +0000

The shiny FDIC sticker posted at your bank may be reassuring that someone in Washington is protecting your money. But that’s assuming the Federal Deposit Insurance Corporation has enough money in its own bank to protect you. Read more »

Once a Toothless Regulator, CFTC Now Wants Obama’s Derivatives Bill Strengthened

Ben Protess — Thu, 20 Aug 2009 23:29:25 +0000

A major regulator of financial derivatives is flexing some newfound muscle in the wake of the economic meltdown.

The U.S. Commodity Futures Trading Commission, or CFTC, wants Congress to strengthen the Obama administration’s legislative plan for overseeing the $592 trillion over-the-counter derivatives market, according to CFTC documents we obtained. Read more »

Big Questions Remain About Bailout Cash

Investigative Fund Staff — Mon, 10 Aug 2009 14:24:34 +0000

Despite hundreds of well-trained eyes watching over the $700 billion in federal funding meant to rescue the nation's financial sector, basic questions remain about how the money has been spent. In 10 months, the Congressional Oversight Panel has issued 10 reports on the Troubled Asset Relief Program, calling for greater transparency and clarity by the Treasury and Federal Reserve.

Elizabeth Warren, the Harvard Law School professor who chairs the oversight panel, chooses her words carefully as she presents the panel’s findings to Congress and the public. Read more »

At Appalachian Fairgrounds, Charity Tries to Fill Gaps in Health Care

Lagan Sebert — Fri, 07 Aug 2009 15:32:58 +0000

Even Most Sweeping Reforms Would Leave Some Without Coverage

WISE, Va. – On a sunny Saturday at the county fairgrounds in this Appalachian community, the gaps in the American health care system were on vivid display.

Lured by the promise of a weekend of free checkups, surgeries and dental care, thousands of people turned up two weeks ago in the far southwest corner of Virginia, as shown in the video documentary that accompanies this article. Read more »

VIDEO: Elizabeth Warren Goes to Washington

David Murdock — Fri, 07 Aug 2009 04:00:00 +0000

In 10 months, the Congressional Oversight Panel overseeing $700 billion in federal bailout funding has issued 10 reports, calling for greater transparency and clarity by the Treasury and Federal Reserve. Elizabeth Warren, the Harvard Law School professor who chairs the oversight panel, chooses her words carefully as she presents the panel’s findings to Congress and the public.
» Related Story: Big Questions Remain About Bailout Cash Read more »

VIDEO: In Rural Virginia, Relief is Rare for Uninsured

Lagan Sebert — Thu, 06 Aug 2009 12:00:00 +0000

On a sunny Saturday at the county fairgrounds in this Appalachian community, the gaps in the American health care system were on vivid display. Lured by the promise of a weekend of free checkups, surgeries and dental care, thousands of people braved the summer heat to get care they otherwise could not afford.
» Related Story: At Appalachian Fairgrounds, Charity Tries to Fill Gaps in Health Care Read more »

DNA Testing of Detained Immigrants Easier Said Than Done

Ben Protess — Wed, 05 Aug 2009 19:45:08 +0000

This story was co-published with ProPublica

Seven months after the federal government gave final approval to a controversial plan to collect DNA samples from undocumented immigrants, the program has yet to launch. Read more »

California Crime Lab Escapes Budget Cuts

Ben Protess — Fri, 31 Jul 2009 15:06:55 +0000

This post was co-published with ProPublica.

Good financial news out of California is rare these days, but one key crime-fighting agency has emerged from the state's recent budget slashing unscathed: the state crime lab. Read more »

Despite Promises, Some Rape Victims Stuck Paying Exam Bills

Ben Protess — Thu, 30 Jul 2009 17:22:21 +0000

This report was co-published with ProPublica

When a woman is raped, police turn to scientific evidence-semen, blood and tissue samples-to identify her attacker. The evidence is collected through a medical exam of the victim, who is not supposed to pay for this crime-solving process. Read more »

Lobbying Showdown over the Future of Student Loans

Danielle Knight — Wed, 29 Jul 2009 18:28:17 +0000

When Sallie Mae, the nation's largest provider of student loans, saw the possibility of its own extinction in a plan advanced by the Obama administration, it did what just about any big corporation would do: It hired the best lobbyists money can buy.

That was standard procedure for Sallie Mae, which for two decades has almost single-handedly stymied attempts to reduce or eliminate federal subsidies to the multibillion-dollar private student loan industry. Read more »

Iraq Prison Diary: Whatever Happened to the 'Six of Clubs'?

Michael Bronner — Thu, 23 Jul 2009 17:36:53 +0000

Hussam Amin, a high-ranking official in the Saddam Hussein regime, told U.N. weapons inspectors for years there was nothing to find in his country. It was the truth - but that didn’t save him from Purgatory.

Major General Hussam Mohammed Amin, named the "Six of Clubs" on the Bush Administration's card deck of "Iraq's Most Wanted," had, perhaps, the most impossible job in pre-war Iraq. Read more »

How do Health Care Lobby Dollars Match Influence in Congress?

Adam Clark Estes — Mon, 13 Jul 2009 18:07:28 +0000

This afternoon, Senate Finance Committee Chair Max Baucus (D-MT: $1,892,999*) and House Ways and Means Committee Chair Charles Rangel (D-NY: $1,372,369) head to the White House for a potentially pivotal meeting with President Obama on health care reform. In an increasingly uphill battle these two key Democrat legislators have been struggling lately with the inevitable bottom line: How much is effective health care reform going to cost? Read more »

Obama Punting on Fannie, Freddie Could Prove Costly

Ben Protess — Mon, 13 Jul 2009 15:29:40 +0000

Facing an array of more immediate financial problems, Treasury Secretary Timothy Geithner has pushed Fannie Mae and Freddie Mac towards the bottom of his to-do list, even as they continue to amass billions of dollars in losses on the government's tab.

But some finance experts and lawmakers argue that time is wasting as the taxpayer's burden grows. Read more »

Introducing Huffington Post Investigative Fund's Health Care Unit

Adam Clark Estes — Thu, 25 Jun 2009 22:40:40 +0000

Today, the Huffington Post Investigative Fund began mobilizing a new cadre of citizen journalists to follow the progress of health care reform legislation with the support of Huffington Post's Eyes & Ears. By targeting the top recipients of campaign cash from the health care industry in both the House and Senate these investigators, now members of the Health Care Investigative Unit, will help track the key players and methods involved in crafting related legislation. Read more »

Toothless Regulator Looks to Take a Bite Out of Derivatives

Ben Protess — Wed, 24 Jun 2009 22:31:01 +0000

When President Obama unveiled his regulatory overhaul plan last week, the Commodities Futures Trading Commission, or CFTC, dodged a bullet. Read more »

Cali Budget Cuts Could Cause 'Public Safety Emergency'

Ben Protess — Tue, 23 Jun 2009 16:53:53 +0000

This report was co-published with ProPublica. Read more »

The Fraud Squad

Howard Goodman — Mon, 22 Jun 2009 13:47:17 +0000

MIAMI ⎯ The sun-seared condominiums along Brickell Avenue stand tall and shiny, but these days they're pockmarked with vacant units, one after the other ⎯ the foreclosed detritus of what was once Boom City.

This part of Florida has seen more than its share of real-estate bubbles over the years and been home to countless schemes, scams, and cons. There's a reason some call it "Fort Frauderdale." Read more »

HuffFund Call for Pitches on Financial Crisis

Fri, 01 May 2009 15:03:48 +0000

The HuffPost Investigative Fund is gearing up and looking for freelance journalists to help delve into the financial crisis/bank bailout. We are accepting investigative story pitches – and also looking for writers able to take on assignments in this area. Send your resumes and story ideas to HuffPostFund@gmail.com.

Welcome to the Huffington Post Investigative Fund

Amanda Zamora — Wed, 22 Apr 2009 17:09:59 +0000

We are just beginning. Bear with our temporary site.

Stay tuned as we begin publishing and updating our news as we gear up.

Thanks!

The Huff Fund