NYT's Andrews: foreclosure didn't force buyout

Edmund Andrews revealed an embarrassing truth earlier this year: The New York Times reporter who covered the mortgage meltdown was a victim of the crisis himself. His Busted: Inside the Great Mortgage Meltdown "explained how he became entangled in the mortgage crisis that has swept the country, purchasing a house he couldn't really afford and piling up debt," The New York Observer says today.

Andrews is among 74 NYT staffers getting a buyout this week, as the paper jettisons 100 newsroom jobs.

"The only value for the buyout was that it essentially provides me with enough money to do a thoughtful exploration of new possibilities,'' he told the Observer. "My economic problems-which are not over-are not really changed by buyout."

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