Jim Zarroli

Jim Zarroli is a business reporter for NPR News, based at NPR's New York bureau.

He covers economics and business news including fiscal policy, the Federal Reserve, the job market and taxes

Over the years, he's reported on recessions and booms, crashes and rallies, and a long string of tax dodgers, insider traders and Ponzi schemers. He's been heavily involved in the coverage of the European debt crisis and the bank bailouts in the United States.

Prior to moving into his current role, Zarroli served as a New York-based general assignment reporter for NPR News. While in this position he covered the United Nations during the first Gulf War. Zarroli added to NPR's coverage of the aftermath of Hurricane Katrina, the London transit bombings and the September 11, 2001 attacks on the World Trade Center.

Before joining the NPR in 1996, Zarroli worked for the Pittsburgh Press and wrote for various print publications.

Zarroli graduated from Pennsylvania State University.

A huge trove of documents leaked from a large Panamanian law firm is shedding light on the global business of tax avoidance. The papers reveal that large numbers of world leaders, athletes and movie stars hired the firm to set up shell corporations and offshore accounts with the aim of hiding their money. Regulators around the world say they will use the document dump to pursue illegal activity.

General Electric wants to be removed from the federal government's list of too-big-to-fail financial institutions, arguing that it's no longer a major player in the financial services industry.

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Over the past few decades, New York City has become safer, richer and a lot more crowded than it used to be. All over Manhattan these days, you can see apartment buildings going up — and yet finding a decent place to live has become tougher than ever.

"We are in an official housing crisis, period, in New York City," says Alicia Glen, New York City's deputy mayor for housing and development. "Our population is growing much more rapidly than our housing stock and so we have a really imbalanced housing market."

Copyright 2016 NPR. To see more, visit http://www.npr.org/.

Transcript

AUDIE CORNISH, HOST:

Argentina has reached an agreement with some of its creditors that should help end a long and acrimonious dispute that has blocked the country from the international bond markets.

The deal, which must be approved by Argentina's Congress, calls for the government to pay $4.653 billion to four of the so-called holdout U.S. hedge funds. That equals about 75 percent of what they claimed they were owed.

Like other presidential candidates before him, Donald Trump is under pressure to release his tax returns. Former GOP presidential candidate Mitt Romney (who faced tax disclosure issues of his own) even suggested this week that Trump was refusing to do so because they contain a "bombshell."

At Thursday's Republican debate in Houston, Trump explained that he cannot release his returns because he is being audited by the Internal Revenue Service.

The Claim

The most prosperous parts of the U.S. have recovered nicely from the 2008 financial crisis, but many other places remain mired in high unemployment and poverty, according to a report measuring wealth levels by ZIP code.

"The United States is still a land of opportunity for many. But when it comes to life outcomes, geography is too often destiny," says a report from the Economic Innovation Group, a research organization.

Too-big-to-fail banks are generating plenty of anger from the public, but former Secretary of State Hillary Clinton says the real risks to the financial system lie in the vast, lightly regulated corners of the economy called shadow banks.

Under fire for her ties to Wall Street, Clinton increasingly has talked about the need to crack down on the hedge funds, private equity firms, money market funds and derivatives traders that perform many of the same functions as banks without being regulated the same way.

U.S. health regulators acknowledged they miscalculated the amount of formaldehyde emitted from some of Lumber Liquidators' laminated floor products. Shares of the company fell sharply Monday on the news.

The Centers for Disease Control And Prevention says the risk of cancer is three times higher than it previously estimated, and it strongly urged Lumber Liquidators customers to take steps to reduce exposure to the substance. The company no longer sells the Chinese-made, laminate products.

Pages