Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

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Around the Nation
3:43 pm
Sun December 1, 2013

The Latest From The New York Train Derailment

Originally published on Sun December 1, 2013 5:55 pm

Transcript

ARUN RATH, HOST:

It's ALL THINGS CONSIDERED from NPR West. I'm Arun Rath.

A commuter train derailed as it was heading into Manhattan this morning, killing four people and injuring more than 60. Witnesses say the train appeared to be going too fast as it rounded a curve just north of a train station in the Bronx. The National Transportation Safety Board is trying to piece together what happened.

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Health Care
5:31 am
Sat November 30, 2013

A New Worry Looms Online For The Affordable Care Act

Insurance companies say they are finding numerous mistakes on a digital form that's essential for signing up through HealthCare.gov.
AP

Originally published on Sat November 30, 2013 1:13 pm

Saturday is the day the Obama administration promised it would have HealthCare.gov working smoothly for the majority of people who need to sign up for health insurance.

As the Obama administration scrambles to fix the glitch-plagued site, experts are beginning to worry about another problem that may further impair the rollout of the Affordable Care Act.

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Business
3:25 am
Wed November 27, 2013

Men's Wearhouse Goes 'Pac-Man' On Joseph A. Bank

The retail company Men's Wearhouse has announced it is launching a takeover battle for rival Joseph A. Bank. What makes the effort unusual is that just last month Joseph A. Bank was trying to take over Men's Wearhouse. The turnaround is an example of what Wall Street calls a Pac-Man defense.

Business
3:27 pm
Fri November 22, 2013

JPMorgan Says It Broke No Law. So Why Pay The $13 Billion?

The U.S. government says JPMorgan Chase & Co. knowingly sold faulty mortgage-backed securities in the years leading up to the financial crisis. The bank says it's broken no laws.
Emmanuel Dunand AFP/Getty Images

Originally published on Fri November 22, 2013 11:20 pm

State and federal regulators have hailed Tuesday's $13 billion settlement with JPMorgan Chase & Co. over faulty mortgage assets it sold in the years leading up to the financial crisis as a big victory for the judicial system.

But like other big settlements to emerge from the financial crisis, the deal leaves unclear just what the bank did wrong.

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Business
3:04 am
Thu November 21, 2013

Obama, State Insurance Commissioners Talk Policy Extensions

Originally published on Thu November 21, 2013 4:55 am

President Obama met with state insurance commissioners to discuss changes to the implementation of the Affordable Care Act. Some commissioners are in a difficult spot because their states passed laws that prohibit policies that don't comply with the law. Now, the president says companies can keep offering non-compliant policies for another year if they want to.

Business
3:37 pm
Tue November 19, 2013

JPMorgan, Feds Finalize Record $13 Billion Mortgage Settlement

Originally published on Tue November 19, 2013 3:54 pm

A long-awaited deal between JP Morgan Chase and the Justice Department was finalized Tuesday. The bank — one of Wall Street's largest — agreed to pay a total of $13 billion to resolve a number of legal issues stemming from mortgage securities sold in the run-up to the financial crisis.

Business
2:50 am
Fri November 15, 2013

Health Care Cancellation Cure Could Lead To Higher Premiums

Originally published on Fri November 15, 2013 8:49 am

The health care fix announced by President Obama on Thursday may be good news for some consumers, but it creates a big headache for insurance companies and regulators. An insurance industry trade group warns the last-minute change could destabilize the market and lead to higher premiums.

Business
3:31 pm
Tue November 12, 2013

Justice Department Approves American, U.S. Airlines Merger

Originally published on Tue November 12, 2013 3:56 pm

The Justice Department approved an airline merger Tuesday that will create the world's largest carrier. AMR, the parent of American Airlines, and U.S. Airways agreed to divest a number of slots and gates at key airports in order to enhance competition.

Business
2:51 pm
Mon November 11, 2013

Race For Same-Day Delivery Could Be Boon For Cash-Strapped USPS

Originally published on Mon November 11, 2013 3:52 pm

Transcript

AUDIE CORNISH, HOST:

While large-scale government IT contracts have a terrible track record, Amazon is a company that has made its reputation for delivering on time. And it's always looking for more ways to shorten the time between online ordering and delivery. Well, today, Amazon announced it's partnering with U.S. Postal Service to expand Sunday delivery options.

NPR's Jim Zarroli reports that for the financially strapped Postal Service it's an opportunity to take a bigger role in the lucrative online retailing market.

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Business
2:42 am
Wed November 6, 2013

Sprecher Slams High-Speed Electronic Exchanges

Originally published on Wed November 6, 2013 3:26 am

The CEO of the firm that's about to take over the New York Stock Exchange has criticized alternative market trading. Jeffrey Sprecher said equity markets, including the NYSE, allow sophisticated traders to take advantage of small investors. He added such models are destined to fail and that people outside the markets have a sense things aren't fair.

Business
2:42 pm
Mon November 4, 2013

SAC Capital To Pay $1.2 Billion Insider Trading Settlement

Originally published on Mon November 4, 2013 5:42 pm

Transcript

AUDIE CORNISH, HOST:

As we mentioned a few minutes ago, the hedge fund company SAC Capital has agreed to plead guilty to criminal charges of insider trading. The agreement with the Justice Department also calls for a huge fine, $1.2 billion. And as NPR's Jim Zarroli reports, the company will also be barred from taking money from outside investors.

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Economy
3:07 pm
Wed October 30, 2013

Fed, Citing A Still-Struggling Economy, Will Keep Buying Bonds

Originally published on Wed October 30, 2013 4:00 pm

Federal Reserve policymakers wrapped up their two-day October meeting Wednesday by announcing that they will maintain the Fed's $85 billion per month bond purchase program. The central bank's statement said that conditions in the labor market have "improved" and inflation is modest. But, in explaining the decision to maintain the stimulus, the statement pointed to a slowing housing market and said that fiscal policy is "restraining economic growth."

Politics
3:37 pm
Wed October 9, 2013

Obama Makes Janet Yellen His Official Choice To Head The Fed

Janet Yellen is President Obama's choice to replace Ben Bernanke at the Federal Reserve. The announcement came Wednesday afternoon. If confirmed by the Senate, Yellen will be the first woman to lead the Fed.

Business
2:44 am
Wed October 9, 2013

Treasury Officials Mull Credit Default Solutions

Originally published on Wed October 9, 2013 3:44 am

The Treasury Department says it will begin running out of money to pay its bills by Oct. 17, if the partial government shutdown isn't over by then. That prospect worries the financial markets. Treasury debt plays a fundamental role in the global economy, and economists agree that a debt default would have dire consequences. But some Republicans insist that a default doesn't have to happen.

Law
2:37 am
Tue October 8, 2013

Jury Selection To Begin For Trial Of Madoff Employees

Originally published on Tue October 8, 2013 6:26 am

Transcript

RENEE MONTAGNE, HOST:

Nearly five years after Bernie Madoff was arrested for fraud, some of his former employees are about to go on trial in New York. The trial is expected to focus on how much the employees knew about Madoff's multibillion dollar Ponzi scheme. Jury selections gets under way today.

STEVE INSKEEP, HOST:

NPR's Jim Zarroli reports.

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Economy
3:03 pm
Thu October 3, 2013

Shutdown Might Mean No Jobs Report, But Does It Matter?

Originally published on Fri October 4, 2013 9:38 am

Transcript

MELISSA BLOCK, HOST:

Among the casualties of this week's government shutdown is one pretty big economic indicator. The Labor Department confirmed today that it will not release September's unemployment report tomorrow as scheduled. The Bureau of Labor Statistics, which compiles the report, says it doesn't have enough people on hand to crunch the numbers.

NPR's Jim Zarroli looks at the impact of the decision on markets.

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Business
3:44 pm
Thu September 26, 2013

Nine Japanese Auto Parts Makers Plead Guilty To Price Fixing

Originally published on Thu September 26, 2013 5:19 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

Most of the people who work in the auto industry don't work for car companies. Instead, they're involved with making the parts that go into the cars. It's a global network that manufactures everything from seatbelts to radiators. Well, now it's caught up in a widening federal investigation into price fixing.

NPR's Jim Zarroli reports the Justice Department said today nine Japanese companies have pleaded guilty to collusion.

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Business
3:38 pm
Mon September 23, 2013

New Rules Allow Companies To Advertise For Dollars

Originally published on Mon September 23, 2013 6:38 pm

Transcript

MELISSA BLOCK, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Melissa Block.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Someday soon you'll see a new kind of advertising on TV and the Internet. A federal law went into effect today allowing private companies to solicit investors for the first time. The new rules are supposed to make it easier for startup companies to raise money. But NPR's Jim Zarroli reports they could also generate more fraud.

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Business
2:48 pm
Thu September 19, 2013

JPMorgan Chase To Pay Huge Fine In London Whale Settlement

Originally published on Thu September 19, 2013 5:07 pm

Transcript

AUDIE CORNISH, HOST:

JPMorgan Chase has agreed to pay a $920 million fine. It comes in response to the bank's handling of the so-called London Whale trading debacle. Last year, J.P. Morgan said that rogue traders in its London office had lost $6 billion in a failed hedging strategy, and then concealed it from executives for weeks.

In addition to the fine, regulators forced the bank to take the unusual step of admitting wrongdoing, as NPR's Jim Zarroli reports.

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Politics
2:12 am
Mon September 16, 2013

Summers Pulls His Name From Consideration For Fed Chief

Originally published on Mon September 16, 2013 5:09 am

Former Treasury Secretary Larry Summers has withdrawn from consideration as the next chairman of the Federal Reserve. He cited a potentially divisive nomination hearing. Summers was widely thought to be President Obama's top choice to replace Ben Bernanke next year.

Business
1:46 am
Thu September 12, 2013

5 Years After Financial Crisis, Are Big Banks Still A Threat?

The headquarters of Lehman Brothers in Times Square in 2008, the year the financial services firm filed for bankruptcy.
Hiroko Masuike Getty Images

Originally published on Thu September 12, 2013 9:30 am

It's been five years since Lehman Brothers collapsed and touched off a banking crisis that is still being felt by the global economy. Today, the banking industry is a lot stronger than it was, but some critics say efforts to reform banking regulations have fallen short of their potential.

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Business
3:13 pm
Wed September 11, 2013

Verizon Makes Blockbuster Bond Sale To Buy Vodafone

Originally published on Wed September 11, 2013 3:59 pm

Transcript

AUDIE CORNISH, HOST:

Wall Street is buzzing about Verizon today. The telecommunications giant carried out the biggest sale in the history of the bond market, $49 billion worth of corporate bonds. Verizon will use the money to finance its recent mega deal with Vodafone.

As NPR's Jim Zarroli reports, the sale comes at a time when interest rates are rising. And companies that want to raise money can't afford to lose any time.

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Remembrances
2:46 pm
Mon August 26, 2013

Muriel Siebert Was One Of the First Women Of Wall Street

Originally published on Tue August 27, 2013 3:30 pm

Transcript

ROBERT SIEGEL, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Robert Siegel.

MELISSA BLOCK, HOST:

And I'm Melissa Block. Muriel Siebert, the first woman to own a seat on the New York Stock Exchange, died over the weekend in Manhattan. She was 84. As NPR's Jim Zarroli reports, Siebert was a pioneer who broke down numerous doors in the male-dominated world of Wall Street.

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Business
2:21 am
Fri August 23, 2013

Wal-Mart Promises To Buy More U.S.-Made Goods

Originally published on Fri August 23, 2013 5:25 am

After decades supplying the American consumer with every import imaginable, Wal-Mart now says it wants to stock its shelves with more goods made in the U.S. In Orlando Thursday, the giant retailer sponsored a conference aimed at encouraging U.S. companies to bring their production back home.

Business
3:27 am
Wed August 21, 2013

U.S. Retailers Vow To Upgrade Bangladesh's Safety Standards

Originally published on Wed August 21, 2013 10:03 am

Transcript

RENEE MONTAGNE, HOST:

Some of America's biggest retailers announced new steps yesterday aimed at improving safety standards in Bangladesh's troubled garment industry. Wal-Mart and the Gap were among the companies that formed a group called the Alliance for Bangladesh Worker Safety after the deadliest accident ever in the garment industry.

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Law
3:27 pm
Wed August 14, 2013

Former JPMorgan Chase Traders Charged Over 'White Whale' Bets

Originally published on Fri August 16, 2013 6:40 am

Transcript

AUDIE CORNISH, HOST:

From NPR News, this is ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Federal prosecutors have charged two former JPMorgan Chase traders with securities fraud. The two men worked in London. And they are part of the so-called London Whale case, which cost the company more than $6 billion. U.S. officials say the men lied about the value of some derivatives trades to cover up mounting lawsuits. More from NPR's Jim Zarroli.

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Business
2:34 pm
Tue August 13, 2013

J.C. Penney Board Member Resigns After Criticizing Management

Originally published on Tue August 13, 2013 4:31 pm

William Ackman, a controversial hedge fund manager, has resigned from the board of the J.C. Penney Company. Ackman is Penny's largest shareholder and had been engaged in a public dispute with the board over who should lead the struggling retailer.

Parallels
1:08 am
Mon August 12, 2013

Too Much, Too Fast: China Sees Backlash From Massive Growth

Originally published on Mon August 12, 2013 9:25 am

At a time when much of the world is mired in economic torpor, China still enjoys enviable growth rates. Yet there's no question that its economy is growing more slowly these days.

Just ask Yan Liwei, a salesman for a construction materials company, who was visiting a park in Shanghai this weekend.

"The number of new construction projects is declining somewhat. It's taking longer for many of our clients to pay us what they owe," Liwei says. "Many small and midsized developers are feeling a cash crunch."

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Business
3:21 am
Fri July 26, 2013

Prosecutors Say SAC Encouraged Insider Trading

Originally published on Fri July 26, 2013 5:33 am

Transcript

DAVID GREENE, HOST:

And the Justice Department took an unusual step yesterday when it indicted a firm for securities fraud. Officials say the hedge fund company SAC Capital and its founder Steven Cohen routinely tolerated and encouraged illegal activity by employees. SAC is denying charges that it engaged in massive insider trading over the years.

NPR's Jim Zarroli has the story.

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Law
3:12 pm
Thu July 25, 2013

DOJ Accuses Hedge Fund SAC Capital Of Major Insider Trading

Originally published on Thu July 25, 2013 3:43 pm

Federal prosecutors finally brought their case against SAC Capital, the giant hedge fund that for years has outperformed almost all of its competitors. Prosecutors say they know why. The firm encouraged the use of illegal insider information and trading on that information became a part of the firm's culture, according to the indictment.

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