Andrew Ross Sorkin Quotes
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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.
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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.
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By now, it seems as if everyone has already read Thomas L. Friedman's 'The World Is Flat: A Brief History of the Twenty-First Century.' It changed the way we think about global business, competitiveness and the implication for far-flung economies, governments, education and more.
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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.
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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.
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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.
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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.
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In truth, a leader should either apologize, mean it and do something about it - or not apologize at all.
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Unemployment in Florida peaked at 11.2 percent in 2009, higher than the national average, and the state was a center for home foreclosures.
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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.
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I don't sleep well. I'm a very nervous - by my nature - anxious, almost paranoid person and reporter.
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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.
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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.
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Forget about banks that are too big to fail; the focus should be on cities, municipalities and countries that are too big to fail.
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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.
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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.
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The greatest economic power might in fact remain in the hands of the Federal Reserve. Economists credit the Fed's policy of keeping interest rates at historic lows with helping to pump up the economy and bring unemployment down.
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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.
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There is a long list of psychology research demonstrating that appearances matter more than most us would care to admit. As shallow as it may be, better-looking people have been shown in various studies to have higher self-esteem and more charisma, are considered more trustworthy and are better negotiators.
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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.
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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.
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I'm not a real sports guy, but I check ESPN.com just so I know what people are talking about.
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Under the Foreign Corrupt Practices Act, a company is not allowed to provide a personal benefit to a decision maker in return for business. But hiring the sons and daughters of powerful executives and politicians is hardly just the province of banks doing business in China: it has been a time-tested practice here in the United States.
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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.