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.

Arnold is spending the academic year of 2012 - 2013 as a Nieman Fellow at Harvard University. He will join a small group of other journalists from the U.S. and around the world for this highly respected journalism fellowship. Arnold will be studying, among other things, the future of home ownership in America.

Since 2006, Arnold has spent much of his time reporting on the financial crisis and its aftermath. 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 has also recently focused on the now government owned mortgage giants Fannie Mae and Freddie Mac. In a series of stories in partnership with reporter Jesse Eisinger at 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 homeownership more affordable. The stories generated widespread attention, and led to calls for an investigation by members of Congress.

Arnold has covered a range of other subjects and stories 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. Arnold followed the lives of those who lived and worked around Ground Zero - from bond traders and Chinatown garment sewers to small business owners - as they sought to put their lives back together again.

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.

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Crisis In The Housing Market
2:23 am
Mon April 16, 2012

Hoping For Payout, Investors Become Landlords

Credit Joe Raedle / Getty Images
Renzo Salazar maintains the yard around a foreclosed house in Miami after the bank hired him to keep the home from falling into complete dilapidation.

The housing market has a new frontier — turning foreclosed homes into rental properties. Some big-time investors are starting to buy up thousands of homes to turn into rentals. That might help shore up home prices. But some housing advocates are nervous.

For decades, most single-family homes available for rent have been owned by mom-and-pop landlords. Sometimes it's the nice old guy up the street who owns a couple of rental homes, and some even offer advice on the Internet.

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Crisis In The Housing Market
1:53 am
Wed April 11, 2012

Fannie, Freddie Weigh Mortgage Write-Downs

Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.

This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.

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Business
3:00 am
Thu April 5, 2012

Bond Auction Indicates Europe's Troubles Continue

A Spanish bond auction went poorly Wednesday, suggesting that Spain may be becoming the next Greece. It was the first auction without a lot of help from the European central bank.

Technology
9:47 am
Mon April 2, 2012

Fixing The Cutting-Edge: Innovation Meets Table Saw

When you think of cutting-edge technology, power tools don't generally come to mind. Take the table saw: Many woodworkers are using 30-year-old saws in their wood shops and, among the major tool companies, there hasn't been much innovation since those decades-old tools came out.

But more and more inventors are trying to make these saws safer — and David Butler is one of them. At his home in Cape Cod, Mass., Butler flips on the fluorescent lights in his basement turned wood shop.

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Crisis In The Housing Market
4:03 am
Fri March 23, 2012

Fannie, Freddie Press For Mortgage Write-Downs

The two most powerful entities in the housing market — Fannie Mae and Freddie Mac — could be on the verge of a significant change regarding foreclosures. NPR and ProPublica have learned that both firms have concluded that giving homeowners a big break on their mortgages would make good financial sense in many cases.

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Economy
3:51 pm
Fri March 16, 2012

The Market's Finally Looking Up: Will It Last?

Credit Richard Drew / AP
Trader Peter Tuchman reacts on the floor of the New York Stock Exchange on March 13. That same day, the Dow Jones industrial average had its highest close since 2007.

Originally published on Fri March 16, 2012 10:03 pm

The stock market hit some major milestones this week: The Standard & Poor's 500 index reached its highest level in more than three years, the Dow Jones industrial average settled in above 13,000 — up about 24 percent since early October — and the Nasdaq rose to its highest level in 11 years. Still, the Federal Reserve has been warning not to get too excited about where the economy is headed next.

David Kotok, chairman and chief investment officer at Cumberland Advisors, says there are a bunch of reason for stocks to be rising.

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Business
3:00 am
Thu March 15, 2012

When A Normal Job Resignation Won't Do

When Greg Smith quit his job at Goldman Sachs, he slammed his former employer in a blistering newspaper essay. People don't often quit with such a public display of vitriol. But when they do, it certainly gets attention.

Economy
5:01 pm
Tue March 6, 2012

How Many U.S. Jobs Does Apple Really Create?

Credit Spencer Platt / Getty Images
Apple's store in New York City's Grand Central station employs about 315 people.

Apple has about 47,000 workers in the U.S. That's not a huge amount for such a profitable and influential company. Now the tech giant is saying it has actually created about 10 times that many jobs indirectly.

Some economists are skeptical of the claim. And the move comes as Apple is facing increased criticism and scrutiny over labor practices at factories it outsources to in China.

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Business
3:00 am
Fri February 10, 2012

Bank Settlement Could Temporarily Spur More Foreclosures

The multi-billion dollar bank mortgage settlement could have some unanticipated consequences for borrowers in trouble. There will likely be an initial surge of foreclosures. Banks, freed from uncertainty over the investigation, will probably pick up the pace of home seizures. But the foreclosure rate will probably fall over the longer term as banks ease the burden on borrowers through principal reductions.

Crisis In The Housing Market
11:01 pm
Wed February 8, 2012

Potential Conflicts At Freddie Mac Draw Scrutiny

Credit Chip Somodevilla / Getty Images
In December, Freddie Mac CEO Charles Haldeman (from left), FHFA acting Director Edward DeMarco and Fannie Mae CEO Michael Williams testified on Capitol Hill about the Federal Housing Finance Agency's performance.

A federal Inspector General's office confirmed Wednesday it is looking into Freddie Mac investments that act as bets against homeowners being able to refinance.

In addition, U.S. senators are expected to probe Freddie Mac's investment practices at a hearing on Capitol Hill on Thursday.

Freddie Mac, based in northern Virginia, is the taxpayer-owned mortgage giant whose public mission is to make homeownership more affordable for Americans.

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The Two-Way
2:50 pm
Fri February 3, 2012

Senator Demands Answers from Freddie Mac's Regulator

Sen. Robert Casey, a Democrat from Pennsylvania, sent a list of questions about Freddie Mac's controversial trades to the mortgage giant's regulator, highlighting how much remains unknown even after a flurry of statements from the regulator.

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Your Money
4:01 am
Mon January 30, 2012

Freddie Mac Betting Against Struggling Homeowners

Freddie Mac, a taxpayer-owned mortgage company, is supposed to make homeownership easier. One thing that makes owning a home more affordable is getting a cheaper mortgage.

But Freddie Mac has invested billions of dollars betting that U.S. homeowners won't be able to refinance their mortgages at today's lower rates, according to an investigation by NPR and ProPublica, an independent, nonprofit newsroom.

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Business
3:00 am
Tue January 17, 2012

Businesses Show More Confidence In The Economy

Originally published on Tue January 17, 2012 4:23 am

Transcript

STEVE INSKEEP, HOST:

Small business owners say they're getting more optimistic about the economy, and about their own prospects. That's according to a survey by the National Federation of Independent Businesses, an influential business group. And this is among several recent reports suggesting the economy is continuing to improve.

NPR's Chris Arnold has more.

CHRIS ARNOLD, BYLINE: Small businesses are getting more confident. And that's a good sign, says John Silvia, the chief economist at Wells Fargo.

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Around the Nation
3:00 am
Thu December 29, 2011

2012 Could See New Regs For Table Saws

Every year, thousands of Americans suffer severe injuries using the saws. But after a series of reports by NPR, the Consumer Product Safety Commission has started crafting new safety rules for table saws.

Crisis In The Housing Market
11:11 am
Tue December 27, 2011

Housing Market Stays Mired In Low Home Price Spin

Credit Scott Olson / Getty Images
According to the Standard & Poor's Case-Shiller Home Price Index released Tuesday, home prices were down 3.4 percent this year as of October — around a 35 percent drop from their peak.

This month, consumer confidence jumped to its highest level since April, a sign that the U.S. economy is starting to mend. But the housing market isn't going along yet with this cheerier mood: Home prices were down 3.4 percent for the year as of October, according to a new report released Tuesday.

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