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Bloomberg News Wins Two George Polk Awards

February 18, 2013

Fourth year in a row that Bloomberg News wins Polk

NEW YORK — Bloomberg News has won two George Polk Awards for
reporting that uncovered the financial holdings of China’s
ruling class and its series that exposed abuses in higher-
education finance in the U.S. This is the fourth year in a row
that Bloomberg News has won a Polk award.

“We are grateful to be recognized by our peers for reporting
that advanced the public interest by providing transparency in
China and the business of financing higher education in the
U.S.” The foreign reporting award recognized Bloomberg News’
“Revolution to Riches” series that lifts the veil of secrecy on
China’s princelings, an elite class that has been able to amass
wealth and influence because of their bloodline. To document the
identities and business dealings of these powerful families,
Bloomberg scoured thousands of pages of corporate filings,
property records, official websites and archives, and conducted
dozens of interviews from China to the United States.

Bloomberg’s “Indentured Students” series won the award for
national reporting, in which Bloomberg News reporters John
Hechinger and Janet Lorin exposed abuses in higher-education
finance. This series revealed how the $1 trillion in outstanding
student loans has become a nightmare, imprisoning students in a
lifetime of debt. Their reporting contributed to new federal
rules on debt collection, the introduction of several
Congressional bills, and reforms by the colleges themselves. It
shed light on a long-unaccountable sector in the American
economy: higher education.

“We are grateful to be recognized by our peers for reporting
that advanced the public interest by providing transparency in
China and the business of financing higher education in the
U.S.,” said Bloomberg News Editor-in-Chief Matthew Winkler.

Since its inception in 1990, Bloomberg News has won more than
600 awards.

In 2011, Bloomberg News was recognized with a Polk award for an
investigative series on Western companies that provide
surveillance systems to authoritarian countries with some of the
world’s worst human rights records. An investigative series on
the for-profit college industry won a Polk award in 2010, and
Bloomberg’s series of stories seeking transparency from the
Federal Reserve Bank of New York won in 2009.

Bloomberg’s George Polk Award-winning series are available on
Bloomberg.com.

Revolution to Riches:
http://topics.bloomberg.com/revolution-to-riches/

Indentured Students:
http://topics.bloomberg.com/indentured-students/

About Bloomberg
Bloomberg, the global business and financial information and
news leader, gives influential decision makers a critical edge
by connecting them to a dynamic network of information, people
and ideas. The company’s strength – delivering data, news and
analytics through innovative technology, quickly and accurately
– is at the core of the Bloomberg Professional service, which
provides real time financial information to more than 310,000
subscribers globally.

Contact:

Ty Trippet, +1-212-617-2443, ttrippet@bloomberg.net