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/

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Contact:

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