Mark Pittman, Bloomberg Reporter Who Predicted Credit Crisis, Sued Fed, Dies

pittmanmark.jpgNo one ever said reporting on the financial markets was easy, but the job doesn’t often claim lives.

So over the long holiday weekend, members of the financial press were shocked to learn that Mark Pittman, the Bloomberg News reporter who predicted the collapse of the banking system back in 2007, had died at the age of 52. Bloomberg reported his death on Saturday, revealing that Pittman suffered from “heart-related illnesses,” although his exact cause of death is still unclear.

Pittman started to write about the credit crisis in the summer of 2007, before it became a crisis. He was part of the Bloomberg team that won a prestigious Gerald Loeb Award in 2008 for the news organization’s five-part series called “Wall Street’s Faustian Bargain,” including Pittman’s story, “Suprime Securities Market Began as ‘Group of 5’ Over Chinese.” He was also part of the team honored by the New York Press Club earlier this year for a piece called “Fed Defies Transparency Aim in Refusal to Disclose”, about the Fed’s refusal to reveal who had received $2 trillion in emergency loans.

He also pushed Bloomberg to file a federal law suit against the Federal Reserve, a case that will continue on without him.

It is clear, throughout his colleague Bob Ivry’s obit, that Pittman was a smart, hardworking journalist who touched many people’s lives and will be missed for his work, his incredible insight into the U.S. financial system and his spirit.

Read more:

Mark Pittman, Reporter Who Foresaw Subprime Crisis, Dies At 52 –Bloomberg

Audit Interview: Mark PittmanColumbia Journalism Review

(Photo courtesy of Bloomberg News)