Was a Bloomberg Reporter Sidelined for His Coverage of Wells Fargo?
Shahien Nasiripour, a Bloomberg News reporter who covered Wells Fargo, was reassigned earlier this year after the bank's CEO, Timothy Sloan, complained. The events reportedly snowballed after a story by Nasiripour in March called Wells Fargo the "preferred financier for the U.S. gun industry" and detailed the bank's relationship with the NRA. After the article was published, Sloan sent bank employees a memo explaining Wells Fargo's relationship with gun manufacturers. After WSJ published the memo in its own article, Nasiripour asked Wells Fargo for a copy of the memo. A PR employee declined the request, and that led to a contentious phone conversation. The bank then contacted Caroline Gage, Global Executive Editor for Finance at Bloomberg News, and she asked Nasiripour to apologize. He did. Later that month, Bloomberg News Editor-in-Chief John Micklethwait also spoke to Nasiripour, when he told the reporter that Sloan had called to complain, and that as a result, he would be moving Nasiripour off the banking beat. CNN reported that the incident rocked part of Bloomberg News’ banking team and was a contributing factor in the departures of some of the unit's veteran reporters. Three senior banking reporters for Bloomberg's have left since, including Hugh Son, Dakin Campbell, and Laura Keller. More here.