NYPost’s Crudele lauds Bloomberg Markets
John Crudele of the New York Post likes the January issue of Bloomberg Markets for its coverage of Treasury secretary Hank Paulson and how he leaked important information to people on Wall Street.
Crudele writes, “That’s what I’ve been writing for the past two years. And it is the biggest story that’ll ever be broken in the history of American financial journalism — the US markets are rigged, with the elite and connected getting a distinct unfair advantage over the rest of us schlumps.
“Enter Bloomberg Markets magazine last week with a story headlined, ‘How Paulson Gave Hedge Funds Advance Word.’
“It addresses the morning of July 21, 2008 — a time when both Fannie Mae and Freddie Mac, government-sponsored organizations that buy most of the nation’s residential mortgages, were in serious trouble.
“Bloomberg says Paulson met with reporters and editors of The New York Times that morning and told them he expected an audit of Fannie’s and Freddie’s books to give the financial markets confidence.
“But he told a different story when he met that same day with hedge-fund managers at the office of Eton Park Capital Management.”