Paddy Hirsch is a Senior Editor at Marketplace. He is the author of the book Man vs Markets, Economics Explained, Pure and Simple, and he is the creator and host of Marketplace Whiteboard, a video explainer of financial and economic terms.

Hirsch joined Marketplace in 2007, just as the credit crunch that preceded the 2008 financial crisis began to take hold.  As editor of the New York Bureau and the entrepreneurship desk, he spearheaded Marketplace’s financial markets coverage throughout the crisis and as the economy fell into recession. He was awarded a Knight Fellowship at Stanford University in 2010, and he returned to Marketplace in July of 2011, when he was appointed Senior Producer of Marketplace Money. He published his first book, Man vs Markets, in August 2012.

Hirsch got his start in journalism with an internship at the BBC in Glasgow, Scotland. He became a field producer for CNBC in Hong Kong and later was a consultant to the Open Broadcast Network in Bosnia. He has been an editor for Direct Capital Markets, Institutional Investor Newsletters, Standard & Poor’s, and the Vietnam Economic Times. Prior to becoming a journalist, he served as an officer in the Royal Marines.

Hirsch attended Campbell College in Belfast and received a bachelor’s degree in French and International Studies from the University of Warwick. He is a Knight Fellow and was a Webby honoree in 2009.

 

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Features by Paddy Hirsch

Tangible Common Equity, or TCE

Tangible Common Equity used to be an obscure and rarely-used accounting term. Today it's one of the main motivators behind the government's decision to turn the American taxpayer into one of Citigroup's biggest stockholders. Senior Editor Paddy Hirsch explains.
Posted In: equity

Cramdowns

A debate is raging in Washington, D.C., about how to deal with America's foreclosure problem. One proposal is to restructure the loans using a tool usually seen in bankruptcy courts: The "cramdown." Senior Editor Paddy Hirsch explains.
Posted In: foreclosures

Write-downs

As markets have deteriorated, "write-downs" have figured prominently in more and more corporate reports. What are write-downs all about? Marketplace Senior Editor Paddy Hirsch explains.
Posted In: Earnings

Mark to market

There's a debate in financial circles over whether banks are unfairly penalized by the requirement that they "mark to market" their holdings. Marketplace Senior Editor Paddy Hirsch explains what that term means.

Why 'bad banks' might be a good thing

Marketplace Senior Editor Paddy Hirsch explains Fed Chairman Ben Bernanke's latest plan to get the economy moving -- and the risk involved.
Posted In: Banks

Quantitative easing

Now the Federal Reserve has effectively cut the target lending rate to zero, it only has one more weapon in its arsenal. Quantitative easing. Senior Editor Paddy Hirsch explains what this "nuclear option" it is, and what the Fed hopes it'll do.
Posted In: quantitative easing

A look inside hedge funds

Hedge funds used to occupy a dark, undisturbed corner of the financial world, but over the last year they've been thrown under the spotlight. Still, many people don't know exactly what hedge funds are, or what hedging actually means. Senior Editor Paddy Hirsch explains.
Posted In: hedge funds

Leveraging and deleveraging

Leveraging -- or borrowing -- has been cited as one of the contributors to the financial crisis. Senior Editor Paddy Hirsch explains how the move to deleverage -- or reduce debt -- is prompting wild market swings and concerns about deflation

How credit cards become asset-backed bonds

Mortgages aren't the only financial instruments that get turned into securities. Marketplace Senior Editor Paddy Hirsch explains how companies make money by buying credit card debt and bundling it.
Posted In: Credit Cards

The credit crisis as Antarctic expedition

Marketplace Senior Editor Paddy Hirsch explains how banks have gotten frozen in their tracks, awaiting a rescue.

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