Power to Truth: Unmasking Corporate Fraud with Louise Story and Anat Admati

Louise Story's Career at the New York Times

• Louise Story joined the New York Times in 2006 to cover advertising and marketing, but later transitioned to covering finance and Wall Street in 2008. (30s)
• Story's background in business, specifically her MBA from the Yale School of Management, equipped her with the financial knowledge to effectively cover the 2008 financial crisis. (1m25s)

Story's Investigative Reporting

• Story's investigative reporting for the New York Times revealed how practices like securities lending, where banks lend out shares held for pension funds, often result in losses for the pension funds while banks prioritize their own profits. (5m18s)
• Louise Story investigated Goldman Sachs in 2008 and uncovered a collateralized debt obligation deal called Abacus that resulted in a settlement. (6m23s)
• Story's investigation into where stolen money is hidden globally led her to discover that a significant amount ends up in US real estate, particularly in high-end condos like the Time Warner Center in Manhattan. (6m54s)
• Story's investigation revealed that banks had stricter "know your customer" regulations compared to real estate and art companies, making it easier to launder money through those avenues. (8m48s)

Working with Whistleblowers

• Louise Story has worked with whistleblowers who have put their jobs at risk to expose wrongdoing within their institutions. (12m39s)
• Story emphasizes the importance of protecting sources' identities, especially when investigating public officials, as their safety and freedom from arrest could be at risk. (15m29s)

AI in Newsrooms

• At the Wall Street Journal, Story held a dual role as both a top editor overseeing coverage strategies and the chief product and technology officer, which allowed her to lead early AI deployments in newsrooms. (17m32s)
• News companies are faced with the decision of partnering with AI companies like OpenAI, or developing their own AI products in-house. (19m42s)
• The Wall Street Journal recently made a deal with OpenAI, giving them access to their content to train their AI models. (18m32s)
• The New York Times has chosen to invest in developing their own AI products and integrating AI into their business. (19m30s)