KTEP - El Paso, Texas

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.

Almost 5 million Americans are considered long-term unemployed, meaning they have been searching for work for at least six months.

This week, their plight is getting a bit tougher as the government cuts their unemployment benefits — part of the automatic reductions in federal spending that took effect recently.

On a recent day, about 40 people turned out at a Manhattan jobs center run by the New York Labor Department to get advice on looking for work. These are all people who have been out of work for at least 27 weeks.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

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

He took his name from a 13th century saint who gave up his wealth and threw in his lot with the poor. As cardinal in Argentina, he eschewed the trappings of power and privilege, taking public transportation and even cooking his own meals.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

DAVID GREENE, HOST:

Well, new plans may be in the works at Dell. The board of the computer company is said to be weighing several takeover offers. Dell's founder has allied with the private equity firm Silver Lake to take the company private.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

ROBERT SIEGEL, HOST:

Transcript

MELISSA BLOCK, HOST:

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

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

Senior executives at JPMorgan Chase appeared on Capitol Hill today. They were asked by a Senate subcommittee to explain how the firm lost more than $6 billion last year in a failed hedging strategy. The testimony comes one day after the subcommittee released a report saying the bank misled regulators and the public about the size of the losses. NPR's Jim Zarroli tells us more.

Transcript

RENEE MONTAGNE, HOST:

When she got out of college and moved to New York, Elizabeth Cline liked to shop at vintage-clothing stores. They were the kinds of places tucked away on side streets in Manhattan and Brooklyn, where a lot of hunting and a little luck might reward you with a great, inexpensive cocktail dress that no one else had.

Then she discovered the world of "fast fashion" — chains like Forever 21, H&M and Zara — and it redefined her whole notion of bargain shopping.

Several states are rushing to establish a foothold in online gambling — an activity that federal officials were only recently trying to ban.

Just a while ago, the federal government actually viewed online gambling as a crime. Lately, the Obama administration has taken a more permissive stance. It now allows states to sell lottery tickets online.

New Jersey Gov. Chris Christie had expressed reservations about online gambling a month ago and had vetoed an earlier version of the bill. But in the end, the pressure to sign the legislation was just too great.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

It's ALL THINGS CONSIDERED from NPR News. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

The Justice Department said Tuesday it could seek more than $5 billion in damages from Standard & Poor's, the nation's biggest credit ratings company, a day after it sued the company, alleging that S&P defrauded investors by giving triple-A ratings to risky subprime mortgage investments.

The Justice Department may seek as much as $5 billion from Standard and Poor's. In a lawsuit filed Monday night, prosecutors accuse the firm of misleading investors with fraudulent credit ratings on dozens of different mortgage bonds. It's not yet clear whether federal officials plan to file a similar suit against the other big rating firms, Moody's and Fitch. Regulators would like to see the industry be more competitive and less dependent on the firms whose securities they are rating.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

Transcript

ROBERT SIEGEL, HOST:

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

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

Ever since the financial crisis erupted in 2008, fingers have been pointing at ratings agencies. Well, today comes news that the U.S. government plans to sue the largest agency, Standard & Poor's for fraud. The case has to do with how the S&P rated mortgage-backed securities. To explain, we're joined by NPR's Jim Zarroli. Hey there, Jim.

JIM ZARROLI, BYLINE: Hi.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

MELISSA BLOCK, HOST:

This is ALL THINGS CONSIDERED from NPR News. I'm Melissa Block.

AUDIE CORNISH, HOST:

And I'm Audie Cornish.

The economy shrank a bit in the fourth quarter and analysts are trying to figure out why. It's clear that declines in business inventories and government spending played a role, but was the real problem the narrowly averted fiscal cliff?

Transcript

STEVE INSKEEP, HOST:

It's MORNING EDITION, from NPR News. I'm Steve Inskeep, with Renee Montagne. Good morning.

Let's try again, shall we, to explain what it means when we hear that the U.S. economy shrank in the fourth quarter of 2012. As we've discussed elsewhere in the program, the decline was slight - just one-tenth of a percentage point - but it is the first contraction of the economy since the Great Recession officially ended in 2009. NPR's Jim Zarroli is with us once again in New York. Jim, good morning.

JIM ZARROLI, BYLINE: Good morning.

Moves taken by Japan's central bank are raising fears that the world could face what's called a "currency war." The measures, announced Tuesday, are designed to flood Japan's moribund economy with money and encourage businesses and consumers to spend more.

Steps like these have been tried again and again by countries all over the world — including the U.S. — in recent years, with mixed success.

What's Wrong With Pouring Money Into The Problem?

The prime minister of Algeria is defending his government's response to last week's attack on a natural gas plant that left 37 hostages dead. He says the Islamic militants who were behind the attack planned to blow up the facility and would have killed a lot more people if they hadn't been stopped.

The attack happened at a huge, internationally operated facility in the Sahara. And it underscores the dangers that energy companies face when they do business in politically unstable places.

Transcript

STEVE INSKEEP, HOST:

You heard the president acknowledge that in some parts of the country - and more specifically, some congressional districts - gun ownership is stronger than in other parts of the country. He would need allies in those places to overcome or persuade the gun industry and its lobbying groups. Industry officials are ready to fight.

As NPR's Jim Zarroli reports, some of the proposals, especially a ban on assault weapons, could take a bite out of gun-makers' revenue.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

AUDIE CORNISH, HOST:

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

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

RENEE MONTAGNE, HOST:

Federal regulators have ordered JPMorgan Chase to beef up its risk management and auditing procedures. That order comes in response to losses suffered by a group of London-based traders at the bank - losses totaling $6 billion.

NPR's Jim Zarroli reports.

Five years ago Friday, Bank of America announced it was buying one of the nation's largest mortgage lenders. Bank officials thought the deal to buy Countrywide Financial would cement Band of America's place at the top of the commercial banking business. But it did not turn out that way.

Transcript

STEVE INSKEEP, HOST:

Some other news: Some of the biggest banks in the country have agreed to pay more than $18 billion to settle allegations of wrongdoing in their mortgage lending. That's today's "Business Bottom Line."

Bank of America said yesterday it would pay more than $10 billion to the mortgage company Fannie Mae because of bad loans sold during the housing boom. And in a separate settlement, 10 banks agreed to pay more than $8 billion in total, to settle claims that they made errors in foreclosing on people's homes. NPR's Jim Zarroli reports.

Transcript

AUDIE CORNISH, HOST:

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

ROBERT SIEGEL, HOST:

And I'm Robert Siegel.

We got a snapshot of the economy at the end of 2012 today. And if you are hoping for a big change in this morning's jobs report, the picture is probably disappointing. In short, it's more of the same.

Transcript

AUDIE CORNISH, HOST:

From NPR News, it's ALL THINGS CONSIDERED. I'm Audie Cornish.

ROBERT SIEGEL, HOST:

I'm Robert Siegel. And here's a case of an old business colossus buying up a scrappy innovator. Avis, the traditional car rental company, is buying Zipcar for $500 million. Zipcar is the car-sharing company with the slogan: Wheels when you want them. NPR's Jim Zarroli reports the deal illustrates how car sharing is reshaping the rental business and drawing in a new demographic.

The U.S. economy grew at a steady though not very strong pace this year. But Europe slipped back into recession because of the ongoing debt crisis. European leaders took steps to stimulate growth, but it wasn't enough to reverse course.

The economic crisis that got under way five years ago was felt all over the world. But Mohammed El-Erian, CEO of the investment firm PIMCO, says different regions have healed at much different rates.

The year "2012 was another multispeed world globally, in the sense that different parts did different things," he says.

Transcript

ROBERT SIEGEL, HOST:

After more than two centuries as an independent company, the New York Stock Exchange is about to change hands. It's being acquired by Atlanta-based IntercontinentalExchange, or ICE, as part of a deal valued at $8.2 billion. In recent years, ICE has exploded in growth.

And as NPR's Jim Zarroli reports, today's announcement is the latest in a series of rapid-fire changes that have transformed the world of stock trading.

Copyright 2017 NPR. To see more, visit http://www.npr.org/.

DAVID GREENE, HOST:

Among those killed last Friday at Sandy Hook Elementary School in Connecticut were six school employees, all of them women. School officials say they died trying to protect their young students. NPR's Jim Zarroli spoke with some people who knew the women.

Dawn Hochsprung, the principal of Sandy Hook Elementary School, was killed in the shootings in Connecticut Friday. In her two years at the school, Hochsprung had become a favorite of students and parents for her charismatic leadership and warm personality. She died trying to overpower the gunman.

Pages