Andrew Ross Sorkin Quotes
-
The euphoria around economic booms often obscures the possibility for a bust, which explains why leaders typically miss the warning signs.
-
We talk about institutions that are too big to fail - I think the story is as much about people who think they are too big to fail.
-
In truth, Wall Street is in for a radical makeover. Fewer people, lower margins, lower risk, lower compensation - and ultimately, fewer talented people. It is likely to change the culture of an industry that for nearly a century has been the money center of the world.
-
TARP became so politicized that having money from it was almost like a scarlet letter. There were debates over compensation, worry that the rules were going to get changed. All the banks were desperately rushing to get that money back as soon as possible - in part, so they could pay themselves bonuses without any government restrictions.
-
Traditionally, we think that people with ideas are innovators - that Silicon Valley is the world of ideas. But within the hedge-fund world, they believe that they are men of ideas - that the trade is unto itself one of ideas.
-
I think you tell the story that has to be told. You tell the story that's the truth. You tell the story that readers will be interested in and should know about.
-
Before the web and these highly focused entities, journalists got to decide what was important to tell their audience and educated their readers. Now, journalists have to try and understand what their consumer actually wants to read and what angle they are looking for in order to keep audiences engaged in a highly competitive world.
-
Unemployment in Florida peaked at 11.2 percent in 2009, higher than the national average, and the state was a center for home foreclosures.
-
In truth, a leader should either apologize, mean it and do something about it - or not apologize at all.
-
I'm not a real sports guy, but I check ESPN.com just so I know what people are talking about.
-
Great stories are still just great yarns. News remains the best human drama ever. Technology is not changing the story; it is just changing the way in which we deliver it.
-
Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.
-
I think Ben Bernanke and Tim Geithner shared the view that they shouldn't be in the business of bailouts, but you know, you're not in the business of bailouts until you frankly think you need to be.
-
I don't sleep well. I'm a very nervous - by my nature - anxious, almost paranoid person and reporter.
-
In September 2008 - as Lehman Brothers filed for bankruptcy and AIG, the world's biggest insurance company, accepted a federal bailout - Senator John McCain of Arizona, in what was widely viewed as a political move, suspended his presidential campaign and called on Obama to rush back to Washington for a bipartisan meeting at the White House.
-
In many ways, education is a lousy business. Teachers are not normal economic actors; almost all of them work for less money than they might fetch in some other industry, given their skills and advanced degrees.
-
The genre of narrative business books that I love so much - the ones that have a you-are-there quality - was invented, or so it is said, in 1982 by David McClintick, who wrote 'Indecent Exposure,' a rollicking good read about a Hollywood scandal and the ultimate boardroom power struggle at Columbia Pictures.
-
As a journalist, a big part of what you do is search for drama and conflict. And a lot of the backstory with 'Billions' is grounded in my journalistic background.
-
I don't want to put words in Geithner's mouth, but I think he is generally against the revolving door of government officials taking jobs with companies that they have overseen or in roles that involve lobbying. At minimum, I'm pretty sure he felt that way about himself.
-
Perhaps the biggest economic shift during Obama's presidency came from a piece of legislation that wasn't sold as such. On March 21, 2010, Congress passed the Affordable Care Act, better known as Obamacare. It was Obama's boldest piece of legislation and the one that will most likely define him.
-
Here's the perversity of Wall Street's psychology: The more Wall Street is convinced that Washington will act rationally and raise the debt ceiling, most likely at the 11th hour, the less pressure there will be on lawmakers to reach an agreement. That will make it more likely a deal isn't reached.
-
Wall Street's biggest fight with Obama was over the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Obama signed into law in the summer of 2010.
-
Why do we have financial crises? Why do banks lose money? If history is any guide, it hasn't often been the result of speculative bets. It has been the result of banks making loans to individuals and businesses who can't pay them back.
-
Several companies have explicit policies against cronyism, with good reason. Hiring a family member simply for a relationship can be troubling and may not necessarily serve a company's interests. But by and large, financial firms in particular commonly hire people who have certain connections, whether through family or a business relationship.