Arrive Magazine - July/August, 2009

EvERy Day whEN tRaDiNg ENDS oN thE flooR

of the New york Stock Exchange, Maria Bartiromo gazes into

the television camera and announces: “it’s four o’clock on wall

Street. Do you know where your money is?” Cable news televi-

sion’s leading lady of financial reporting delivers the lines with

gusto, ushering in the final hour of Closing Bell, the daily market

rundown she anchors on CNBC. for many viewers these days,

her signature question is fraught, to say the least. • Bartiromo

is knowledgeable and plugged in with the global financial elite,

many of whom frequent her show as interview guests. her lineup

during the world Economic forum in Davos in January was typi-

cal: She talked with Bill and Melinda gates, JP Morgan chief Jamie

Dimon, former British Prime Minister tony Blair—and, to wide-

spread attention, grilled former Merrill lynch CEo John thain,

who had handed out billions in bonuses in late 2008 while the

financial services giant was absorbing massive losses and being

taken over by Bank of america at the behest of U.S. officials.

l
t
signature question on Closing Bell is
likely to provoke an unpleasant answer:
“thanks to wall Street my money is
long gone.”
american CEos, government leaders
and the financial media itself have come
under intense scrutiny in recent months.
while the recession in some ways re-
mains a murky picture, one thing is clear:
wall Street and the U. S. economy are
lurching through profound change.
“this has been an extraordinary
ime,” Bartiromo says, “and yes, a very
painful time. But i am an optimist at
heart. i know we’ll get out of this and
there will be growth opportunities again.
i feel fortunate to have had a front-row
seat, watching and being able to talk to
the people on the front lines of all that’s
been going on.”
in february, after a day of triple-digit
osses for the Dow, Bartiromo sat down
on the other side of an interview, on
the small set overlooking the floor of
the NySE where she hosts Closing Bell.
Despite a day of dreary economic news
and listless trading, she is animated with
talk about the buzz at Davos, the drama
of emergency meetings at the federal
Reserve, and lessons to be learned from
the market meltdown.
her verve can be tempered by candor.

“i’ve been very surprised. i didn’t think it would get this bad,” she says about the carnage in the financial sector and the fallout in the broader economy. “there has been a humbling going on. once we get out of this crisis, i think the financial services industry will look much different—it’ll be smaller and include less leverage, and the compensation situation will be much different.”

Bartiromo says she spends much of her time preparing for interviews and prides herself on being a straight shooter unafraid to ask “the tough questions.” She also looks for signs of optimism where any might yet be found. During a conversation earlier this year with überbear Nouriel Roubini, she bantered cheerfully with the famously prescient economist after getting him to concede a bright spot—yes, Roubini quipped,

perhaps in addition to bankruptcy lawyers and antidepressant makers, it was true that companies involved in rebuilding the nation’s infrastructure could soon prosper. Despite the long cascade of grim economic news and revelations of fraud and scandal, Bartiromo’s enthusiasm rarely wanes on the air.

yet, the stakes have changed dramatically in this turbulent era of economic crisis. for many americans, Bartiromo’s

Bulls, Bears and Bad Guys

Bartiromo is well aware that the warriors of wall Street are now marauders in the eyes of many. “there is real public outrage and i think that’s absolutely appropriate,” she says. “these guys used shareholder money and leveraged way up—even many executives didn’t understand the complex use of derivatives going on. So the outrage is very well placed. i think we need more people to come forward and be accountable. we haven’t had enough of that.”