Robert Smith

Robert Smith is a correspondent for NPR's Planet Money where he reports on how the global economy is affecting our lives.

If that sounds a little dry, then you've never heard Planet Money. The team specializes in making economic reporting funny, engaging and understandable. Planet Money has been known to set economic indicators to music, use superheroes to explain central banks, and even buy a toxic asset just to figure it out.

Smith admits that he has no special background in finance or math, just a curiosity about how money works. That kind of curiosity has driven Smith for his 20 years in radio.

Before joining Planet Money, Smith was the New York correspondent for NPR. He was responsible for covering all the mayhem and beauty that makes it the greatest city on Earth. Smith reported on the rebuilding of Ground Zero, the stunning landing of US Air flight 1549 in the Hudson River and the dysfunctional world of New York politics. He specialized in features about the overlooked joys of urban living: puddles, billboards, ice cream trucks, street musicians, drunks and obsessives.

When New York was strangely quiet, Smith pitched in covering the big national stories. He traveled with presidential campaigns, tracked the recovery of New Orleans after Hurricane Katrina and reported from the BP oil spill.

Before his New York City gig, Smith worked for public radio stations in Seattle (KUOW), Salt Lake City (KUER) and Portland (KBOO). He's been an editor, a host, a news director and just about any other job you can think of in broadcasting. Smith also lectures on the dark arts of radio at universities and conferences. He trains fellow reporters how to sneak humor and action into even the dullest stories on tight deadlines.

Smith started in broadcasting playing music at KPCW in his hometown of Park City, Utah. Although the low-power radio station at Reed College in Portland, Oregon, likes to claim him as its own.

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Planet Money
12:59 am
Fri August 10, 2012

Why Don't More Unemployed Spaniards Get Jobs In Germany?

Credit iStockphoto.com
Jobs ahead.

Originally published on Mon August 13, 2012 9:22 am

Zoe Chace and Robert Smith are reporting from European borders this week. This is the third story in a four-part series.

The eurozone was supposed to create one big labor market by making it easy to cross borders for work.

But Gerhard Wiegelmann, a CEO in Stuttgart, Germany, can't find enough workers to staff his company — even with unemployment in Spain over 20 percent. He's had to turn down projects because he can't hire enough people.

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Planet Money
10:41 am
Thu August 9, 2012

The Marijuana Trade In The Euro's Birthplace

Credit Ermindo Armino / AP
Marijuana in Maastricht

Originally published on Mon August 13, 2012 8:26 am

Zoe Chace and Robert Smith are reporting from European borders this week. This is the second story in a four-part series.

Maastricht, a town in the Netherlands, is known largely for two things.

  1. The treaty that created the euro was signed there.
  2. Marijuana is legal there, and it's sold at "coffee shops" around town.

This is the story of the troubled relationship between those two claims to fame.

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Planet Money
1:22 am
Thu August 9, 2012

The Building That's In Two Countries At Once

Credit Robert Smith / NPR
Hans Hover has one foot in Germany, and one in the Netherlands.

Originally published on Thu August 9, 2012 12:43 pm

Zoe Chace and Robert Smith are reporting from European borders this week. This is the first story in a four-part series.

A metal strip on the floor of Eurode Business Center marks the border between Germany and the Netherlands.

On one side of the building, there's a German mailbox and a German policeman. On the other side, a Dutch mailbox and a Dutch policeman.

The building was supposed to make it easy to work in both countries. But it's also a reminder of how the European dream isn't yet a reality.

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Planet Money
2:11 pm
Fri July 20, 2012

Just How Blind Are Blind Trusts, Anyway?

Credit J.D. Pooley / Getty Images

Originally published on Mon July 23, 2012 8:32 am

As Mitt Romney has faced questions about his investments and tax returns, the likely Republican presidential nominee has responded with two words of explanation: blind trust.

Romney keeps most of his wealth in a blind trust designed to prevent him from knowing exactly where his money is and what it's doing. It's a long tradition for presidents and candidates, though anyone can set one up if he wants to.

But it turns out that not all blind trusts are equally blind. Some are cast into complete and utter darkness. Others are more nearsighted.

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Planet Money
9:08 am
Mon July 9, 2012

Identifying The Real Victims In The LIBOR Scandal

Credit Theo Francis / NPR
LIBOR affects many consumer credit rates, from mortgages to credit cards.

Originally published on Wed July 11, 2012 3:16 pm

A lot of the coverage of the LIBOR scandal has focused on the ways that Barclays tried to manipulate LIBOR lower during the financial crisis, to make the bank look more secure. This has led some listeners to ask a good question: if rates were being shoved down, doesn't that help consumers? LIBOR, after all, is a financial benchmark that shows up in adjustable rate mortgages and other loans.

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Planet Money
6:13 am
Mon July 9, 2012

Did The Bank of England Urge Barclays to Lie?

Credit Christopher Furlong / Getty Images
Morning light on the houses of Parliament in London, where Bank of England Deputy Governor Paul Tucker faces questions over his role in a banking scandal.

The scandal over LIBOR, a key global interest rate, has already hit banks around the world. Today, it moves to the very heart of the British government.

A deputy governor of the Bank of England will be quizzed by parliament on whether he told banks to lie to about the crucial interest rate.

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Planet Money
10:10 am
Fri July 6, 2012

Rigging LIBOR: Banking Scandal Hits Home (Literally)

Credit Lefteris Pitarakis / AP

Originally published on Mon July 9, 2012 9:06 pm

The biggest scandal in the world right now has nothing to do with sex or celebrities. It's about an interest rate called LIBOR, or the London Interbank Offered Rate.

Most Americans probably never heard of LIBOR. When I first moved to New York, I hadn't. Back then, I could barely afford my apartment and got an adjustable rate mortgage. And so I wondered: When my rate adjusts, how will I know how much I'll be paying?

I searched through all the documents and it was right there — LIBOR. I would be paying a few percentage points above whatever LIBOR was.

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Business
4:10 am
Fri July 6, 2012

Why The Barclays Scandal Affects More Than Britain

Originally published on Fri July 6, 2012 7:35 am

The Planet Money team digs into the rate-setting scandal engulfing the British bank Barclays. Emails reveal bank employees were shockingly casual and explicit in their communications about manipulating one of the key financial benchmarks in the global economy.

Planet Money
1:16 am
Thu June 28, 2012

Going Public Is A Hassle

Credit Richard Drew / AP
Meh.

Originally published on Wed July 11, 2012 3:09 pm

Here's a classic story of how a multimillion-dollar company gets started.

A young guy named Seung Bak is on a trip to China. He gets back to his hotel room late one night and turns on the TV.

"I'm flipping through channels, and in the middle of China they are showing Korean dramas all around the clock," Bak says.

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Planet Money
10:17 am
Tue June 26, 2012

Hiding In Every Euro: Signs Of Doom!

Credit Lam Thuy Vo / NPR

We always liked the lofty design of euro notes. Until Planet Money reader Peter Minnig wrote in to point out the secret messages hidden in the notes — clues that suggest all may not end well for the euro.

What follows are a combination of clues Minnig pointed out, and those we found ourselves.

(Sorry about that giant "Specimen" printed across the bills. We're just following the European Central Bank's anti-counterfeiting rules.)



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Planet Money
1:04 am
Fri May 4, 2012

Food Trucks Seek 'That Mystical Spot'

Credit Lam Thuy Vo / NPR

Originally published on Mon May 7, 2012 12:55 pm

The Rickshaw Dumpling Truck is a retired postal van, painted red and filled with Chinese dumplings. I'm riding shotgun with Kenny Lao, the van's co-owner. It's a weekday morning, and we're driving into Manhattan looking for a killer spot to set up shop for the day.

"I think there is that mystical spot in midtown that every truck owner dreams of," Lao says. "Easy parking. It's a wide sidewalk. There's no restaurant but there's lots of offices."

There are 3,000 year-round food trucks and carts competing for that mystical spot. And no one has an official place to park.

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Planet Money
1:00 am
Thu April 26, 2012

On The Million-Dollar Trail Of A Mystery SuperPAC Donor

Credit iStockphoto.com
Some superPAC donors are hiding from public scrutiny.

Originally published on Thu April 26, 2012 9:19 am

Planet Money
10:01 pm
Thu March 1, 2012

What The IRS Could Learn From Mormons

Credit Douglas C. Pizac / AP
The money Mormons tithe goes to The Church of Jesus Christ of Latter-day Saints headquarters in Salt Lake City, Utah, and then is distributed to congregations around the world.

Many religious traditions stress the importance of charity. But Mormons are remarkable for the amount and the precision with which they give to their church.

The Church of Jesus Christ of Latter-day Saints teaches that each Mormon in good standing should tithe 10 percent of his or her income. The money goes right to church headquarters in Salt Lake City and then is distributed back to congregations around the world.

"That's written in stone, and preached from the pulpit," says Gordon Dahl, an economist at the University of California, San Diego, who is Mormon.

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Planet Money
3:33 pm
Fri February 3, 2012

Who Killed Lard?

Credit Steve Snodgrass / Flickr
Old school.

Ron Silver, the owner of Bubby's restaurant in Brooklyn, recently put a word on his menu you don't often see anymore: lard. The white, creamy, processed fat from a pig. And he didn't use the word just once.

For a one-night-only "Lard Exoneration Dinner", Silver served up lard fried potatoes. And root vegetables, baked in lard. Fried chicken, fried in lard. Roasted fennel glazed with lard sugar and sea salt. Pies, with lard inside and out. All from lard he made himself in the kitchen.

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Planet Money
2:58 pm
Fri January 27, 2012

Rethinking The Oreo For Chinese Consumers

Credit Kraft Foods
Kraft Foods has reinvented the Oreo for Chinese consumers. It's latest offering in China: straw-shaped wafers with vanilla-flavored cream filling.

Everyone knows what an Oreo cookie is supposed to be like. It's round, black and white, and intensely sweet. Has been for 100 years. But sometimes, in order to succeed in the world, even the most iconic product has to adapt.

In China, that meant totally reconsidering what gives an Oreo its Oreoness.

At first, though, Kraft Foods thought that the Chinese would love the Oreo. Who doesn't? They launched the product there in 1996 as a clone of the American version.

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