Chris Arnold

NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition. He joined NPR in 1996, and was based in San Francisco before moving to Boston in 2001.

In recent years, Arnold has spent much of his time reporting on the financial crisis, its aftermath, and the U.S. economy's ongoing recovery. He has focused on the housing bubble and its collapse. And he's reported on problems within the nation's largest banks that have led to the banks improperly foreclosing on thousands of American homeowners. For this work, Arnold earned a 2011 Edward R. Murrow Award for the special series, The Foreclosure Nightmare. He's also been honored with the Newspaper Guild's 2009 Heywood Broun Award for broadcast journalism. He was chosen by the Scripps Howard Foundation as a finalist for their National Journalism Award, and he won an Excellence in Financial Journalism Award from N.Y. State's society for CPA's.

Arnold is also reporting on the now government-owned mortgage giants Fannie Mae and Freddie Mac. In a series of stories in partnership with ProPublica, Arnold exposed investments at Freddie Mac that raised serious concerns about a conflict of interest between Fannie and Freddie's massive investment portfolios, and their mission to make home ownership more affordable. The stories generated widespread attention, and led to calls for an investigation by members of Congress.

Arnold was recently honored with a Nieman Journalism Fellowship at Harvard University during the 2012-2013 academic year. He joined a small group of other journalists from the U.S. and abroad and studied, among other things, economics and the future of home ownership in America.

Prior to that, Arnold covered a range of other subjects for NPR – from Katrina recovery in New Orleans and the Gulf Coast, to immigrant workers in the fishing industry, to a new kind of table saw that won't cut your fingers off. He traveled to Turin, Italy, for NPR's coverage of the 2006 Winter Olympics. He has also followed the dramatic rise in the numbers of teenagers abusing the powerful and highly addictive painkiller Oxycontin – more than 1 out of 20 high school seniors report using the drug.

In the days and months following the Sept. 11, 2001, attacks, Arnold reported from New York and contributed to the NPR coverage that won the Overseas Press Club and the George Foster Peabody Awards. He chronicled the recovery effort at Ground Zero, focusing on members of the Port Authority Police department, as they struggled with the deaths of 37 officers - the greatest loss of any police department in U.S. history.

Prior to his move to Boston, Arnold traveled the country for NPR doing feature stories on entrepreneurship. His pieces covered technologists, farmers, and family business owners. He also reported on efforts to kindle entrepreneurship in economically disadvantaged areas ranging from inner-city Los Angeles to the Pine Ridge Indian reservation in South Dakota.

Arnold has worked in public radio since 1993. Before joining NPR, he was a freelance reporter working out of San Francisco's NPR Member Station, KQED.

Pages

Business
2:38 am
Fri September 6, 2013

Rates Come Down On Jumbo Mortgage Loans

iStockphoto.com

Originally published on Fri September 6, 2013 11:40 am

There is something new and different for home mortgages: Jumbo loans are being made at lower interest rates than traditional home loans. That's kind of like a first class airplane ticket being cheaper than riding in coach.

At first this seems crazy. For as long as anybody can remember, homeowners have had to pay a premium to get jumbo loans. That's because they're not guaranteed by the federal government. If they're not guaranteed, they're riskier, so they cost more in interest payments.

Read more
Business
1:41 am
Thu August 22, 2013

As Housing Recovers, Lots Of Boats Rise In U.S. Economy

A worker at the Cataumet Sawmill in Falmouth, Mass., where the improved housing outlook has led to more hours for employees.
Chris Arnold NPR

Originally published on Fri August 23, 2013 11:02 am

In just the past week we've seen a bunch of signs that the housing recovery is gaining steam. Data out Wednesday showed that existing-home sales rose to their highest level in nearly four years, while prices were up 14 percent from a year ago.

Retailers Home Depot and Lowe's both reported strong earnings growth and attributed that to the housing rebound.

And most important for the economy, homebuilders are hiring more workers and building more houses.

Read more
Law
6:25 pm
Tue August 6, 2013

DOJ Sues Bank Of America Over Mortgage-Backed Securities

Transcript

AUDIE CORNISH, HOST:

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

MELISSA BLOCK, HOST:

And I'm Melissa Block. The Justice Department is bringing civil charges against one of the nation's largest banks. The government alleges Bank of America made false statements about the quality of $850 million worth of home loans. Those loans were then sold to investors. NPR's Chris Arnold reports.

Read more
Law
4:56 pm
Fri July 26, 2013

After Five Years, Why So Few Charges In Financial Crisis?

Neil Barofsky, special inspector general for the Troubled Asset Relief Program, testifies before Congress about the program in 2010. Barofsky now says of the financial crisis: "The folks responsible for this incredibly painful economic damage that struck our economy have gone free."
Harry Hamburg AP

Originally published on Mon July 29, 2013 11:01 am

In the latest in a string of insider trading cases, federal prosecutors this week indicted SAC Capital, one of the most prominent and profitable hedge funds in the world.

But when it comes to the 2008 financial crisis that sent the economy into a tailspin, criminal prosecutions have been few and far between.

Read more
Business
11:18 am
Thu July 25, 2013

Government Charges SAC In Insider Trading Case

Federal prosecutors have filed criminal charges against one of the most famous and successful hedge funds in the world. The government alleges that SAC Capital Advisors is criminally responsible for insider trading that went on at the firm.

NPR Story
4:12 am
Fri July 19, 2013

Federal Judge Green Lights Suit Against Private Equity Firms

Originally published on Fri July 19, 2013 5:00 am

The investor lawsuit claims the companies, including Blackstone, Carlyle and Bain Capital, colluded to drive down prices on hundreds of billions of dollars in takeovers.

Politics
4:07 am
Thu July 18, 2013

Congress Takes Renewed Aim At Fannie Mae, Freddie Mac

Originally published on Thu July 18, 2013 6:45 am

Transcript

RENEE MONTAGNE, HOST:

For the first time since the housing crash, lawmakers are getting serious about dismantling the mortgage giants Fannie Mae and Freddie Mac. They were rescued with $190 million bailout. Two prominent senators - a Democrat and a Republican - have a bill that's attracting some bipartisan support. A separate Republican bill is being introduced in the House today and a third may soon come from Democrats. NPR's Chris Arnold reports.

Read more
The Two-Way
12:52 pm
Thu July 11, 2013

Bernanke's Comments Lift Stocks To Record Highs

Originally published on Thu July 11, 2013 4:29 pm

Stocks surged Thursday after the chief of the Federal Reserve sent signals that the central bank wasn't in a hurry to stop helping the economy. When the markets closed, the Standard & Poor's 500 Index was at a record high. Other U.S. indexes were also up, including the Dow Jones Industrial Average, which rose nearly 170 points to a record 15,460.92.

Update at 5 p.m. ET: We've updated some figures in this post to reflect the markets' closing.

Read more
Economy
4:00 pm
Fri July 5, 2013

Jobs Keep Growing. How Soon Should The Fed Stop Helping?

Many economists are encouraged by the latest jobs report because the stronger growth doesn't appear to be just a one-month blip.
Kevork Djansezian Getty Images

Originally published on Tue July 9, 2013 11:37 am

The latest employment report is encouraging to many economists because the stronger job growth doesn't appear to be just a one-month blip. But some worry that it's so strong the Federal Reserve may pull back efforts to boost the economy.

The Labor Department's newest data released Friday shows the U.S. added 195,000 jobs in June. The prior two months were also revised upward — above 190,000 for both April and May.

That's three months of more-robust job growth.

Read more
Around the Nation
12:57 pm
Sat April 20, 2013

In Boston, Lockdown Became Time To Spend With Friends

Transcript

SCOTT SIMON, HOST:

And of course last night, many Bostonians cheered the news that the second suspect in the marathon bombings had been captured. While the backdrop is tragic, residents across the city permitted themselves a moment of celebration. People were also expressing relief that the lockdown of the city was officially over.

NPR's Chris Arnold visited a lockdown party in Boston and filed this report.

Read more

Pages