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'''Gary Weiss''' is an ] ], columnist and ] of two books that critically examine the ethics and morality of ]. He was also a contributing editor for '']''. His Business Week articles exposed organized crime on Wall Street and the Salomon Brothers bond trading scandal in the 1990s, and more recently he has covered the 2008 financial crisis and its aftermath. '''Gary Weiss''' is an ] ], columnist and ] of two books that critically examine the ethics and morality of ]. He was a contributing editor for '']''. One Business Week story exposed organized crime on Wall Street and another the Salomon Brothers bond trading scandal in the 1990's.


==Education and early career== ==Early life and education==
Weiss grew up in ] and attended public schools, including the ]. He received degrees from the ] and the ] at ]. He worked for news organizations in ] and ], and '']'' magazine, before joining '']'' magazine in 1986.<ref> Weiss, ''The Weiss Files''</ref> Weiss grew up in ] and attended public schools, including the ]. He received degrees{{which|date=March 2015}} from the ] and the ] at ]. <ref name=weiss> Gary Weiss, ''Gary Weiss, author of AYN RAND NATION'' website. n.d.</ref>


==Career==
==Magazine articles==
Weiss worked for news organizations{{which|date=March 2015}} in ] and ], and '']'', before joining '']'' magazine in 1986.<ref name=weiss/>
Between 1986 and 2004 Weiss wrote investigative articles for ''Business Week'', including cover stories on the dangers of the ], as well as stock fraud and improprieties by brokerages large and small. His articles described widespread improper trading at the ] and broke the story of the bond trading scandal at ] in 1991. Weiss also wrote essays and articles critical of the ] and other regulators,<ref> Gary Weiss BusinessWeek Online April 26, 1999</ref> and a 1995 cover story exploring the early manifestations of online investing.<ref> Gary Weiss BusinessWeek Online June 5, 1995</ref>

In 2006, Weiss became a founding member of ], a global media alliance organized by investigative journalist ] investigating the July 2004 murder of ], ] of the Russian edition of '']'' magazine, and continuing the investigative work that he started.<ref>{{cite web
| last = Project Klebnikov
| first =
| coauthors =
| year = 2006
| url = http://www.projectklebnikov.org/missionstatement.php
| title = www.ProjectKlebnikov.org
| work = Stern & Co.
| accessdate = 2006-10-30
| quote= Project Klebnikov is a global alliance specifically devoted to developing new information on the Klebnikov murder and to furthering some of the investigative work Paul began. }}</ref>

From November 2006 through March 2008 Weiss was "]" columnist for Forbes.com .<ref> press release, Forbes, Inc., Nov. 2, 2006</ref><ref>{{cite news| url=http://search.forbes.com/search/colArchiveSearch?aname=Gary+Weiss&author=gary+and+weiss | title=Gary Weiss|work=Forbes}}</ref>

Weiss has been a contributor to '']'' op-ed page and to ].{{cn|date=March 2015}} In 2007 he criticized ] CEO ] and his campaign against ] in numerous articles.<ref>Gaffen, David. , The Wall Street Journal Online, February 14, 2007.</ref><ref>Mitchell, Dan, "", ''The New York Times'', January 20, 2007.</ref><ref>Antilla, Susan. "", ''Bloomberg'', February 21, 2007.</ref><ref>Faille, Christopher. ", ''Hedge World'' , January 22, 2007.</ref>

From October 2008 until 2010 Weiss was an editor for '']''. After the closing of Portfolio, Weiss continued to write for the surviving Portfolio website, writing a weekly column, "The Weiss File," through December 2010.<ref name="Weiss file">{{cite web|url=http://www.portfolio.com/views/columns/the-weiss-file/|title=The Weiss File|publisher=- Portfolio.com|author=Gary Weiss|accessdate=13 May 2011}}</ref>


==Magazine articles==
In testimony before a U.S. Senate committee in 1991, ], then temporarily running Salomon Brothers, said that he learned of a bond trading scandal by reading Weiss' article in Business Week. At the time the article came out, he said, Salomon Brothers was denying a scandal was taking place. Buffett said, "I was not that aware personally about the squeeze, not until I did read that Business Week story."<ref>{{cite web|title=Warren Buffett Read it Here First|work=Business Week|date=Oct 14, 1991|url=http://www.businessweek.com/archives/1991/b32352.arc.htm}}</ref>
Between 1986 and 2004 Weiss wrote investigative articles for ''Business Week'', including cover stories on the dangers of the ], as well as stock fraud and improprieties by brokerages large and small.{{cn|date=March 2015}}
His articles described widespread improper trading at the ]{{cn|date=March 2015}} In 1991 he broke the story of the bond trading scandal at ]. {{cn|date=March 2015}} In a 1991 testimony before a U.S. Senate committee, ], then temporarily running Salomon Brothers, said that he learned of a bond trading scandal by reading Weiss' article in Business Week. At the time the article came out, he said, Salomon Brothers was denying a scandal was taking place.<ref>{{cite web|title=Warren Buffett Read it Here First|work=Business Week|date=Oct 14, 1991|url=http://www.businessweek.com/archives/1991/b32352.arc.htm}}</ref> He wrote a 1995 cover story exploring the early manifestations of online investing.<ref> Gary Weiss, BusinessWeek Online, 5 June 1995</ref>


In 1996, Weiss wrote a 3 part article titled "Mob on Wall Street" for ''Business Week'',<ref>{{cite news|author1=Gary Weiss|title=THE MOB ON WALL STREET|url=http://www.businessweek.com/1996/51/b35061.htm|accessdate=26 March 2015|work=Businessweek|date=16 December 1996}}</ref> praised by then-] Director ] in a letter published by ''Business Week'' in December 2000. <ref> BusinessWeek Online, December 24, 2000. Businessweek staff. Quote: "Gary Weiss has done our nation an invaluable service by reporting the manipulation of the stock market by elements of organized crime. By outlining specific stocks and stock brokerage firms that were controlled by organized crime, he opened the door for FBI investigations in Florida and in New York, and for that we owe him a tremendous debt of gratitude."</ref>
Weiss authored a ] in the April 1, 1996 edition, titled "Fall of the Wizard," that was critical of ]'s performance and behavior as manager of ] ]. In response, Robertson sued Weiss and ''BusinessWeek'' for $1 billion for ]. The suit was ] with no money changing hands, and ''BusinessWeek'' standing by the substance of its reporting.<ref>
In April 1996 Weiss authored a ] , titled "Fall of the Wizard," that was critical of ]'s performance and behavior as manager of ] ]. In response, Robertson sued Weiss and ''BusinessWeek'' for $1 billion for ]. The suit was ] with no money changing hands, and ''BusinessWeek'' standing by the substance of its reporting.<ref>
{{cite web {{cite web
| last = Weiss | last = Weiss
Line 54: Line 74:
In 1998, Weiss wrote a Business Week commentary calling for strict limits on ], saying "limiting leverage may make some high-tech investment strategies difficult or impossible. It might also cut into the derivatives business of banks and Wall Street firms. If that's the case--well, so be it."<ref>{{cite web|title=Slap a Limit on Leverage--Now|work=Business Week|date=October 1998|url=http://www.businessweek.com/archives/1998/b3599080.arc.htm}}</ref> In 1998, Weiss wrote a Business Week commentary calling for strict limits on ], saying "limiting leverage may make some high-tech investment strategies difficult or impossible. It might also cut into the derivatives business of banks and Wall Street firms. If that's the case--well, so be it."<ref>{{cite web|title=Slap a Limit on Leverage--Now|work=Business Week|date=October 1998|url=http://www.businessweek.com/archives/1998/b3599080.arc.htm}}</ref>


In 1999 Weiss wrote essays and articles critical of the ]. <ref> Gary Weiss BusinessWeek Online April 26, 1999</ref>
Weiss's "Mob on Wall Street" and other ''Business Week'' stories were praised by then-] Director ], in a letter published by ''Business Week'' in December 2000. Freeh wrote: "Gary Weiss has done our nation an invaluable service by reporting the manipulation of the stock market by elements of organized crime. By outlining specific stocks and stock brokerage firms that were controlled by organized crime, he opened the door for FBI investigations in Florida and in New York, and for that we owe him a tremendous debt of gratitude."<ref> BusinessWeek Online, December 25, 2000</ref>


==Books== == Bibliography ==
*
''Born to Steal'' (2003) focuses on ]-linked ] Louis Pasciuto and Wall Street firms infiltrated by ] in the 1990s.<ref>{{cite news
*{{cite book
| last =
| first =
| authorlink =
| coauthors =
| year = 2004
| chapter =
| title = Born to Steal: When the Mafia Hit Wall Street
| publisher = Warner Books
| location =
| isbn = 0-446-61398-3
}}''Born to Steal'' (2003) focuses on ]-linked ] Louis Pasciuto and Wall Street firms infiltrated by ] in the 1990s.<ref>{{cite news
| last = Whelan | last = Whelan
| first = David | first = David
Line 67: Line 99:
| date=August 21, 2006 | date=August 21, 2006
}}</ref> }}</ref>
*{{cite book

| last =
''Wall Street Versus America'' (2006) is an "attack, using humor and ridicule" on the morality of Wall Street, its regulators and the ]. The book is critical of ], ], the Wall Street securities arbitration process, the ], and former Securities and Exchange Commission chairmen ] and ].<ref>''Publisher's Weekly'', Reed Business Information</ref> The book is also critical of campaigns against ],<ref>{{cite news | first = Tim | last = Arango | title = Playing Musical Chairs - Moguls Eyeing Moves for Different Powerhouses | work = The New York Post | publisher = N.Y.P. Holdings, Inc. | page = 30 | date = 2006-01-22 | accessdate = 2007-10-20 }}</ref> and takes a dim view of much financial journalism.<ref>{{cite web
| last = Corporate Crime Reporter
| first = | first =
| authorlink =
| coauthors = | coauthors =
| year = 2006
| chapter =
| title = Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments
| publisher = Portfolio Hardcover
| location =
| isbn = 1-59184-094-5}}The book is an "attack, using humor and ridicule" on the morality of Wall Street, its regulators and the ]. The book is critical of hedge funds, ], the Wall Street securities arbitration process, the ], former Securities and Exchange Commission chairmen ] and ].<ref>''Publisher's Weekly'', Reed Business Information</ref>{{full|date=March 2015}} The book is also critical of campaigns against ],<ref>{{cite news | first = Tim | last = Arango | title = Playing Musical Chairs - Moguls Eyeing Moves for Different Powerhouses | work = The New York Post | publisher = N.Y.P. Holdings, Inc. | page = 30 | date = 2006-01-22 | accessdate = 2007-10-20 }}</ref> and takes a dim view of much financial journalism.<ref>{{cite web
| last = Corporate Crime Reporter
| year = 2006 | year = 2006
| url = http://www.corporatecrimereporter.com/weiss040506.htm | url = http://www.corporatecrimereporter.com/weiss040506.htm
| title = Wall Street Versus America | title = Wall Street Versus America
| work = Corporate Crime Reporter | work = Corporate Crime Reporter
| accessdate = 2006-10-30}}</ref> Weiss singled out ] in his criticism, and his comments on anti-naked-shorting activists provoked threats.<ref>{{cite web
| accessdate = 2006-10-30
}}</ref> Weiss singled out ] in his criticism, and his comments on anti-naked-shorting activists provoked threats.<ref>{{cite web
| last = Antilla | last = Antilla
| first = Susan | first = Susan
Line 87: Line 125:
| accessdate = 2006-10-30 | accessdate = 2006-10-30
}}</ref> }}</ref>

''Ayn Rand Nation'' (2012) is an analysis of ]'s philosophy of ] and its influence on the political and economic environment in the United States.<ref>, Publisher's Weekly, 16 January 2012</ref> ], writing in ], argues that Weiss shows in the book that ] 'has become to the new right what Karl Marx once was to the left: a demigod at the head of a chiliastic cult.'<ref>{{cite news | first = George | last = Monbiot | title = How Ayn Rand became the new right's version of Marx | date = 2012-03-06 | url = http://www.theguardian.com/commentisfree/2012/mar/05/new-right-ayn-rand-marx | work = The Guardian | accessdate = 2013-10-20}}</ref>

== Recent career ==
Weiss is a founding member of ], a global media alliance organized by investigative journalist ] investigating the July 2004 murder of ], ] of the Russian edition of '']'' magazine, and continuing the investigative work that he started.<ref>{{cite web
| last = Project Klebnikov
| first =
| coauthors =
| year = 2006
| url = http://www.projectklebnikov.org/missionstatement.php
| title = www.ProjectKlebnikov.org
| work = Stern & Co.
| accessdate = 2006-10-30
| quote= Project Klebnikov is a global alliance specifically devoted to developing new information on the Klebnikov murder and to furthering some of the investigative work Paul began.
}}</ref>

Weiss was "]" columnist for Forbes.com from November 2006 through March 2008.<ref> press release, Forbes, Inc., Nov. 2, 2006</ref><ref>{{cite news| url=http://search.forbes.com/search/colArchiveSearch?aname=Gary+Weiss&author=gary+and+weiss | title=Gary Weiss|work=Forbes}}</ref>

Weiss has also been a contributor to '']'' op-ed page and to ]. He criticized ] CEO ] and his campaign against ].<ref>Gaffen, David. , The Wall Street Journal Online, February 14, 2007.</ref><ref>Mitchell, Dan, "", ''The New York Times'', January 20, 2007.</ref><ref>Antilla, Susan. "", ''Bloomberg'', February 21, 2007.</ref><ref>Faille, Christopher. ", ''Hedge World'' , January 22, 2007.</ref>

He became a contributing editor for '']'' in October 2008. After the closing of Portfolio, Weiss continued to write for the surviving Portfolio website, writing a weekly column, "The Weiss File," through December 2010.<ref name="Weiss file">{{cite web|url=http://www.portfolio.com/views/columns/the-weiss-file/|title=The Weiss File - Portfolio.com|accessdate=13 May 2011}}</ref>

== Bibliography ==
*{{cite book
| last =
| first =
| authorlink =
| coauthors =
| year = 2004
| chapter =
| title = Born to Steal: When the Mafia Hit Wall Street
| publisher = Warner Books
| location =
| isbn = 0-446-61398-3
}}
*{{cite book
| last =
| first =
| authorlink =
| coauthors =
| year = 2006
| chapter =
| title = Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments
| publisher = Portfolio Hardcover
| location =
| isbn = 1-59184-094-5
}}
*{{cite book *{{cite book
| last = | last =
Line 144: Line 135:
| publisher = St. Martin's Press | publisher = St. Martin's Press
| location = | location =
| isbn = 0-312-59073-3}} The book is an analysis of ]'s philosophy of ] and its influence on the political and economic environment in the United States.<ref>, Publisher's Weekly, 16 January 2012</ref> ], argued in ], that Weiss showed in the book how Ayn Rand|Rand "has become to the new right what Karl Marx once was to the left: a demigod at the head of a chiliastic cult".<ref>{{cite news | first = George | last = Monbiot | title = How Ayn Rand became the new right's version of Marx | date = 2012-03-06 | url = http://www.theguardian.com/commentisfree/2012/mar/05/new-right-ayn-rand-marx | work = The Guardian | accessdate = 2013-10-20}}</ref>
| isbn = 0-312-59073-3
}}


== References == == References ==

Revision as of 20:13, 26 March 2015

For the film director, see Gary Weis. For the baseball player, see Gary Weiss (baseball).
Gary Weiss
BornUnited States
Occupation(s)Investigative journalist, columnist, author, writer

Gary Weiss is an American investigative journalist, columnist and author of two books that critically examine the ethics and morality of Wall Street. He was a contributing editor for Condé Nast Portfolio. One Business Week story exposed organized crime on Wall Street and another the Salomon Brothers bond trading scandal in the 1990's.

Early life and education

Weiss grew up in New York City and attended public schools, including the Bronx High School of Science. He received degrees from the City College of New York and the Medill School of Journalism at Northwestern University.

Career

Weiss worked for news organizations in Connecticut and Washington, D.C., and Barron's Magazine, before joining Business Week magazine in 1986.

In 2006, Weiss became a founding member of Project Klebnikov, a global media alliance organized by investigative journalist Richard Behar investigating the July 2004 murder of Paul Klebnikov, editor-in-chief of the Russian edition of Forbes magazine, and continuing the investigative work that he started.

From November 2006 through March 2008 Weiss was "Muckraker" columnist for Forbes.com .

Weiss has been a contributor to The New York Times op-ed page and to Salon. In 2007 he criticized Overstock.com CEO Patrick Byrne and his campaign against naked short selling in numerous articles.

From October 2008 until 2010 Weiss was an editor for Condé Nast Portfolio. After the closing of Portfolio, Weiss continued to write for the surviving Portfolio website, writing a weekly column, "The Weiss File," through December 2010.

Magazine articles

Between 1986 and 2004 Weiss wrote investigative articles for Business Week, including cover stories on the dangers of the Internet, as well as stock fraud and improprieties by brokerages large and small. His articles described widespread improper trading at the American Stock Exchange In 1991 he broke the story of the bond trading scandal at Salomon Brothers. In a 1991 testimony before a U.S. Senate committee, Warren Buffett, then temporarily running Salomon Brothers, said that he learned of a bond trading scandal by reading Weiss' article in Business Week. At the time the article came out, he said, Salomon Brothers was denying a scandal was taking place. He wrote a 1995 cover story exploring the early manifestations of online investing.

In 1996, Weiss wrote a 3 part article titled "Mob on Wall Street" for Business Week, praised by then-FBI Director Louis Freeh in a letter published by Business Week in December 2000. In April 1996 Weiss authored a cover story , titled "Fall of the Wizard," that was critical of Julian Robertson's performance and behavior as manager of hedge fund Tiger Management. In response, Robertson sued Weiss and BusinessWeek for $1 billion for defamation. The suit was settled with no money changing hands, and BusinessWeek standing by the substance of its reporting. After two years of poor performance, the Tiger funds closed in 2000.

In 1998, Weiss wrote a Business Week commentary calling for strict limits on leverage, saying "limiting leverage may make some high-tech investment strategies difficult or impossible. It might also cut into the derivatives business of banks and Wall Street firms. If that's the case--well, so be it."

In 1999 Weiss wrote essays and articles critical of the Securities and Exchange Commission.

Bibliography

  • Born to Steal: When the Mafia Hit Wall Street. Warner Books. 2004. ISBN 0-446-61398-3. {{cite book}}: Cite has empty unknown parameter: |coauthors= (help)Born to Steal (2003) focuses on Mafia-linked stockbroker Louis Pasciuto and Wall Street firms infiltrated by organized crime in the 1990s.
  • Wall Street Versus America: The Rampant Greed and Dishonesty That Imperil Your Investments. Portfolio Hardcover. 2006. ISBN 1-59184-094-5. {{cite book}}: Cite has empty unknown parameter: |coauthors= (help)The book is an "attack, using humor and ridicule" on the morality of Wall Street, its regulators and the financial press. The book is critical of hedge funds, mutual funds, the Wall Street securities arbitration process, the New York Stock Exchange, former Securities and Exchange Commission chairmen Arthur Levitt and William H. Donaldson. The book is also critical of campaigns against naked short selling, and takes a dim view of much financial journalism. Weiss singled out Bear Stearns in his criticism, and his comments on anti-naked-shorting activists provoked threats.
  • Ayn Rand Nation: The Hidden Struggle for America's Soul. St. Martin's Press. 2012. ISBN 0-312-59073-3. {{cite book}}: Cite has empty unknown parameter: |coauthors= (help) The book is an analysis of Ayn Rand's philosophy of Objectivism and its influence on the political and economic environment in the United States. George Monbiot, argued in The Guardian, that Weiss showed in the book how Ayn Rand|Rand "has become to the new right what Karl Marx once was to the left: a demigod at the head of a chiliastic cult".

References

  1. ^ The Author Gary Weiss, Gary Weiss, author of AYN RAND NATION website. n.d.
  2. Project Klebnikov (2006). "www.ProjectKlebnikov.org". Stern & Co. Retrieved 2006-10-30. Project Klebnikov is a global alliance specifically devoted to developing new information on the Klebnikov murder and to furthering some of the investigative work Paul began. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  3. Gary Weiss Joins Forbes.com As Columnist press release, Forbes, Inc., Nov. 2, 2006
  4. "Gary Weiss". Forbes.
  5. Gaffen, David. Blog Roll — Overstock Edition, The Wall Street Journal Online, February 14, 2007.
  6. Mitchell, Dan, "Flames Flare Over Naked Shorts", The New York Times, January 20, 2007.
  7. Antilla, Susan. "Overstock Blames With Creepy Strategy", Bloomberg, February 21, 2007.
  8. Faille, Christopher. "The Gray Lady Fans the Flames, Hedge World , January 22, 2007.
  9. Gary Weiss. "The Weiss File". - Portfolio.com. Retrieved 13 May 2011.
  10. "Warren Buffett Read it Here First". Business Week. Oct 14, 1991.
  11. Online Investing Gary Weiss, BusinessWeek Online, 5 June 1995
  12. Gary Weiss (16 December 1996). "THE MOB ON WALL STREET". Businessweek. Retrieved 26 March 2015.
  13. Thanks from the FBI BusinessWeek Online, December 24, 2000. Businessweek staff. Quote: "Gary Weiss has done our nation an invaluable service by reporting the manipulation of the stock market by elements of organized crime. By outlining specific stocks and stock brokerage firms that were controlled by organized crime, he opened the door for FBI investigations in Florida and in New York, and for that we owe him a tremendous debt of gratitude."
  14. Weiss, Gary (April 1, 1996). "Fall of the Wizard. Part 1" (Magazine article). Business Week. McGraw-Hill. Retrieved November 11, 2009.
  15. Truell, Peter (December 18, 1997). "The Media Business; Investor Settles Libel Suit Against Business Week" (Newspaper article). New York Times. Retrieved November 11, 2009.
  16. Weiss, Gary (April 17, 2000). "The Buck Stops with Julian Robertson, Not the Market" (Magazine editorial). Business Week. McGraw-Hill. Retrieved November 11, 2009.
  17. "Slap a Limit on Leverage--Now". Business Week. October 1998.
  18. The American Stock Exchange: Scandal on Wall Street Gary Weiss BusinessWeek Online April 26, 1999
  19. Whelan, David (August 21, 2006). "Weiss Vs. Wall Street". Forbes.com. Retrieved 2006-11-02. {{cite news}}: Cite has empty unknown parameter: |coauthors= (help)
  20. Publisher's Weekly, Reed Business Information
  21. Arango, Tim (2006-01-22). "Playing Musical Chairs - Moguls Eyeing Moves for Different Powerhouses". The New York Post. N.Y.P. Holdings, Inc. p. 30. {{cite news}}: |access-date= requires |url= (help)
  22. Corporate Crime Reporter (2006). "Wall Street Versus America". Corporate Crime Reporter. Retrieved 2006-10-30.
  23. Antilla, Susan (2006). "Wall Street, Don't Let Customers Read This Book: Susan Antilla". Bloomberg.com. Retrieved 2006-10-30. {{cite web}}: Cite has empty unknown parameter: |coauthors= (help)
  24. Non-fiction review, Publisher's Weekly, 16 January 2012
  25. Monbiot, George (2012-03-06). "How Ayn Rand became the new right's version of Marx". The Guardian. Retrieved 2013-10-20.

External links

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