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A hedge fund named Magnetar comes up with an elaborate plan to make money. It sponsors the creation of complicated and ultimately toxic financial securities...while at the same time betting against the very securities it helped create. Planet Money's Alex Blumberg teams up with two investigative reporters from ProPublica, Jake Bernstein and Jesse Eisinger, to tell the story. Jake and Jesse pored through thousands of pages of documents and interviewed dozens of Wall Street Insiders. We bring you the result: A tale of intrigue and questionable behavior, which parallels quite closely the plot of a Mel Brooks musical. (40 minutes)
If you have any questions after hearing this story, you can email the ProPublica team for an answer.
We commissioned a Broadway song to go along with this story, which you can listen to here. (Click to stream; right click or control click to download.)
You can also download the sheet music.
And here is a video of the recording session for the song:
Music and Lyrics: Robert Lopez
Vocalists: John Treacy Eagan and Christian Borle
Music Supervisor/Producer: Stephen Oremus
Orchestrator: Bruce Coughlin
Piano: Mark Hummel. Keyboard: Randy Cohen. Bass: Dave Phillips. Drums: Sean McDaniel. Sax/Flute: Dave Mann. Sax/Clarinet: Charles Pillow. Sax/Clarinet: Dave Riekenberg. Trumpet: Tony Kadleck. Trumpet: Bud Burridge. Trombone: Randy Andos
Studio Engineer: John Kilgore. Music Contractor: Michael Keller. Copyist: Karl Mansfield