Jesse Eisinger Wiki
Jesse Eisinger is an American journalist and author. Winner of the Pulitzer Prize for National Reporting in 2011, he currently works as a senior reporter for ProPublica. His first book, The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives, was published by Simon & Schuster in 2017.
Jesse Eisinger Biography
Eisinger is a graduate of Columbia College, where he majored in American Studies.
Eisinger began his career with The South Pacific Mail in Santiago, Chile. He moved to Dow Jones Newswires and then TheStreet.com, where he covered biotechnology and pharmaceuticals.
In 2000, Eisinger was hired by The Wall Street Journal Europe, where he wrote the thrice-weekly column “Heard in Europe” for two years.
While working in Europe, Eisinger helped expose frauds at Lernout & Hauspie, a Belgian company specializing in voice recognition software, and Élan, an Irish pharmaceutical company.
Eisinger’s work has appeared in ProPublica, The New York Times, The Wall Street Journal, The Atlantic, The New Yorker website, and many other publications.
Jesse Eisinger Age
Jesse Eisinger is an American journalist and author Who is date birth, age, is unknown but stay ready for the update
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Jesse Eisinger Wife
Jesse Eisinger is a senior reporter and editor at ProPublica. He is the author of the “The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives.”
In April 2011, he and a colleague won the Pulitzer Prize for National Reporting for a series of stories on questionable Wall Street practices that helped make the financial crisis the worst since the Great Depression.
He won the 2015 Gerald Loeb Award for commentary. He has also twice been a finalist for the Goldsmith Prize for Investigative Reporting.
He serves on the advisory board of the University of California, Berkeley’s Financial Fraud Institute.
He was a regular columnist for The New York Times’s Dealbook section. His work has appeared in The New York Times, The Atlantic, NewYorker.com, The Washington Post, The Baffler, The American Prospect and on NPR and “This American Life.” Before joining ProPublica, he was the Wall Street Editor of Conde Nast Portfolio and a columnist for the Wall Street Journal, covering markets and finance.
He lives in Brooklyn with his wife, the journalist Sarah Ellison is a reporter for The Washington Post. Previously, she served as a special correspondent for Vanity Fair, where she covered politics, culture, and media. Ellison is a regular commentator on CNN, NBC, MSNBC, and other news outlets. She is also a frequent guest on programs such as WNYC, PBS NewsHour, and Democracy Now!
Jesse Eisinger Children
His first book, War at the Wall Street Journal, was published in 2010, and their daughters.
Jesse Eisinger Height
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Jesse Eisinger Salary
Jesse’s salary is estimated to be between $10k to $50k per year.
Jesse Eisinger Net Worth
His net worth is estimated to be around $350k.
Financial and Investigative Reporting
Eisinger moved to New York in 2002 to write for The Wall Street Journal. His first column was called “Ahead of the Tape”. After two years, he started writing a new financial column called “Long and Short”.
Several years later, Eisinger joined the Conde Nast Portfolio as the magazine’s Wall Street editor. His cover story in November 2007, titled “Wall Street Requiem,” predicted the collapse of Bear Stearns and Lehman Brothers.
Eisinger was hired as a senior reporter by the nonprofit investigative newsroom ProPublica in 2009.
In 2009, Eisinger began work on a series of stories, “The Wall Street Money Machine,” that revealed how Wall Street’s morally questionable practices had led to the worst financial crisis since the Great Depression.
Co-authored with Jake Bernstein, the series was awarded the Pulitzer Prize for National Reporting in 2011. It was the first Pulitzer Prize awarded to a group of stories published in a digital-only format.
Eisinger was a New America Fellow in 2016 and 2017.
Eisinger’s Wall Street series was also nominated for the 2011 Goldsmith Prize for Investigative Reporting. He would be nominated again for the Goldsmith in 2015 for a series of stories about the Red Cross, written with Justin Elliott of ProPublica and NPR’s Laura Sullivan.
In 2015, Eisinger was honored with the Gerald Loeb Award for his Wall Street commentary.
Jesse Eisinger Podcast
UNLOCKED from the bird feed to the main feed: Current Affairs host Pete Davis invites Jesse Eisinger — Pulitzer Prize-winning investigative journalist with ProPublica and author of The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives — to the Current Affairs World Headquarters to enlighten us on the topic of corporate crime, feckless white collar prosecutors, and why we should care about the underfunding of the IRS.
Read Jesse’s piece on the IRS dropping the ball here. Read Jesse’s piece on why only one banker went to jail after the financial crisis here. Read The New York Times’ huge report on the Trump family tax fraud here. Read George Scialabba’s new book, which Pete quoted at the end of the episode, here.
Many thanks to the amazing Dan Thorn for editing help on this episode.
To listen to interviews when they first come out — and gain access to our patrons’ “Bird Feed” — consider becoming a monthly patron at our Patreon page. Call into Current Affairs anytime at (504) 867-8851.
Jesse Eisinger Books
The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives Hardcover – July 11, 2017
Winner of the 2018 Excellence in Financial Journalism Award
From Pulitzer Prize-winning journalist Jesse Eisinger, “a fast-moving, fly-on-the-wall, disheartening look at the deterioration of the Justice Department and the Securities and Exchange Commission…It is a book of superheroes” (San Francisco Review of Books).
Why were no bankers put in prison after the financial crisis of 2008? Why do CEOs seem to commit wrongdoing with impunity? The problem goes beyond banks deemed “Too Big to Fail” to almost every large corporation in America—to pharmaceutical companies and auto manufacturers and beyond.
The Chickenshit Club—an inside reference to prosecutors too scared of failure and too daunted by legal impediments to do their jobs—explains why in “an absorbing financial history, a monumental work of journalism…a first-rate study of the federal bureaucracy” (Bloomberg Businessweek).
Jesse Eisinger begins the story in the 1970s when the government pioneered the notion that top corporate executives, not just seedy crooks, could commit heinous crimes and go to prison. He brings us to trading desks on Wall Street, to corporate boardrooms and the offices of prosecutors and FBI agents.
These revealing looks provide context for the evolution of the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department’s approach to pursuing corporate criminals through the early 2000s and into the Justice Department of today, including the prosecutorial fiascos, corporate lobbying, trial losses, and culture shifts that have stripped the government of the will and ability to prosecute top corporate executives.
“Brave and elegant….a fearless reporter…Eisinger’s important and profound book takes no prisoners (The Washington Post). Exposing one of the most important scandals of our time, The Chickenshit Club provides a clear, detailed explanation as to how our Justice Department has come to avoid, bungle, and mismanage the fight to bring these alleged criminals to justice. “This book is a wakeup call…a chilling read, and a needed one” (NPR.org).
Jesse Eisinger IRS
An eight-year campaign to slash the agency’s budget has left it understaffed, hamstrung and operating with archaic equipment. The result: billions less to fund the government. That’s good news for corporations and the wealthy.
In the summer of 2008, William Pfeil made a startling discovery: Hundreds of foreign companies that operated in the U.S. weren’t paying U.S. taxes, and his employer, the Internal Revenue Service, had no idea. Under U.S. law, companies that do business in the Gulf of Mexico owe the American government a piece of what they make drilling for oil there or helping those that do.
But the vast majority of the foreign companies weren’t paying anything, and taxpaying American companies were upset, arguing that it unfairly allowed the foreign rivals to underbid for contracts.
Pfeil and the IRS started pursuing the non-U.S. entities. Ultimately, he figures he brought in more than $50 million in previously unpaid taxes over the course of about five years. It was an example of how the tax-collecting agency is supposed to work.
But then Congress began regularly reducing the IRS budget. After 43 years with the agency, Pfeil — who had hoped to reach his 50th anniversary — was angry about the “steady decrease in budget and resources” the agency had seen. He retired in 2013 at 68.
After Pfeil left, he heard that his program was being shut down. “I don’t blame the IRS,” Pfeil said. “I blame the Congress for not giving us the budget to do the job.”
Had the billions in budget reductions occurred all at once, with tens of thousands of auditors, collectors and customer service representatives streaming out of government buildings in a single day, the collapse of the IRS might have gotten more attention.
But there have been no mass layoffs or dramatic announcements. Instead, it’s taken eight years to bring the agency that funds the government this low. Over time, the IRS has slowly transformed, one employee departure at a time.
The result is a bureaucracy on life support and tens of billions in lost government revenue. ProPublica estimates a toll of at least $18 billion every year, but the true cost could easily run tens of billions of dollars higher.
The cuts are depleting the staff members who help ensure that taxpayers pay what they owe. As of last year, the IRS had 9,510 auditors. That’s down a third from 2010. The last time the IRS had fewer than 10,000 revenue agents was 1953 when the economy was a seventh of its current size.
And the IRS is still shrinking. Almost a third of its remaining employees will be eligible to retire in the next year, and with morale plummeting, many of them will.
The IRS conducted 675,000 fewer audits in 2017 than it did in 2010, a drop in the audit rate of 42 percent. But even those stark numbers don’t tell the whole story, say current and former IRS employees: Auditors are stretched thin, and they’re often forced to limit their investigations and move on to the next audit as quickly as they can.
Without enough staff, the IRS has slashed even basic functions. It has drastically pulled back from pursuing people who don’t bother filing their tax returns. New investigations of “nonfilers,” as they’re called, dropped from 2.4 million in 2011 to 362,000 last year.
According to the inspector general for the IRS, the reduction results in at least $3 billion in lost revenue each year. Meanwhile, collections from people who do file but don’t pay have plummeted. Tax obligations expire after 10 years if the IRS doesn’t pursue them.
Such expirations were relatively infrequent before the budget cuts began. In 2010, $482 million in tax debts lapsed. By 2017, according to internal IRS collection reports, that figure had risen to $8.3 billion, 17 times as much as in 2010. The IRS’ ability to investigate criminals has atrophied as well.
Corporations and the wealthy are the biggest beneficiaries of the IRS’ decay. Most Americans’ interaction with the IRS is largely automated. But it takes specialized, well-trained personnel to audit a business or a billionaire or to unravel a tax scheme — and those employees are leaving in droves and taking their expertise with them.
For the country’s largest corporations, the danger of being hit with a billion-dollar tax bill has greatly diminished. For the rich, whose research shows evade taxes the most, the IRS has become less and less of a force to be feared.
The story has been different for poor taxpayers. The IRS oversees one of the government’s largest anti-poverty programs, the earned income tax credit, which provides cash to the working poor.
Under continued pressure from Republicans, the IRS has long made a priority of auditing people who receive that money, and as the IRS has shrunk, those audits have consumed even more resources, accounting for 36 percent of audits last year.
The credit’s recipients — whose annual income is typically less than $20,000 — are now examined at rates similar to those who make $500,000 to $1 million a year. Only people with incomes above $1 million are examined much more frequently.