Preferential Rent Treatment Is Hurting New York City's Poorest Neighborhoods
The units are supposed to be protected from steep rent hikes. But thanks to a loophole, owners can seek big rent increases anyway.
Cezary Podkul
Cezary is a reporter at ProPublica covering New York. Previously, he worked as a reporter at Reuters specializing in data-driven news stories.
Paul Ryan Is Wrong About the Effects of Estate Tax on Wisconsin
As they push to abolish the estate tax, the House speaker and President Trump may be exaggerating its harm to small businesses and family farms.
Trump's New Bank Regulator Has Previously Helped Banks Exploit Consumers
As head of the Office of the Comptroller of the Currency, Keith Noreika now has the power to override state laws protecting consumers.
Chris Christie's Tunnel Tango
What happened to the money after the New Jersey governor killed a new commuter rail tunnel five years ago?
The Dangers of Pension Obligation Bonds
Bankers and new accounting rules are emboldening governments to borrow-and-bet their way out of pension problems, a strategy that’s backfired in the past.
What Chris Christie Didn't Say at His Campaign Kickoff
The New Jersey governor pledges to “tell it like it is,” but his fiscal record and rhetoric don’t line up.
Borrowing From the Future to Pay for Today's Expenses
Facing a giant budget deficit, Louisiana Governor Bobby Jindal plans to borrow $750 million against future income from a landmark legal settlement with cigarette makers.
How Bankers Manipulate Rating Agencies to Get Their Way
Wall Street pressed S&P, Moody’s, and Fitch to assign more favorable credit ratings to their tobacco bonds deals and bragged that the raters complied. Now many of the bonds are headed for default.
Trapped in the Tobacco Debt Trap
A refinance of Niagara County, New York’s tobacco bonds was good news—but for investors, not taxpayers.
And You Thought Your Credit Card Debt Was Bad
In Niagara County, New York, leaders took on 40-year debt to pay for short-term stuff, a case study in the perverse incentives tobacco bonds create.
The Hidden Costs of Tobacco Debt
Even when taxpayers aren’t explicitly on the hook, tobacco bonds can cost states and local governments money. Here’s how.
How Tobacco Deals Left States With Billions in Debt
Politicians wanted upfront cash from a legal victory over Big Tobacco, and bankers happily obliged. The price? A handful of states promised to repay $64 billion on just $3 billion advanced.