Andrew Ross Sorkin
Andrew Ross Sorkin
Andrew Ross Sorkinis an American journalist and author. He is a financial columnist for The New York Times and a co-anchor of CNBC's Squawk Box. He is also the founder and editor of DealBook, a financial news service published by The New York Times. He wrote the bestselling book Too Big to Fail and co-produced a movie adaptation of the book for HBO Films...
NationalityAmerican
ProfessionJournalist
Date of Birth19 February 1977
CountryUnited States of America
against companies felt generally government involve jobs officials revolving roles sure taking
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.
against business certain commonly companies explicit family financial good hire hiring member particular people policies relationship serve several simply troubling whether
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.
activity biggest companies deals learned merger possible
What if the slowdown in merger activity isn't cyclical, but secular? What if corporations have learned the lessons of so many companies before them that the odds of a successful merger are no better than 50-50 and probably less? Is it possible that the biggest deals have already been done?
closing companies corporate country creating likely lower nice race rates reform requires sad sure tax theory tough whatever willing
Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero.
argument companies default everybody good money playing run safer skin stake true
There's a good argument to be made that companies that are private, where they're run by partnerships, where everybody has true stake in them and they're not playing with other people's money, that by default it's a safer system, because you really have skin in the game. You really own the company.
fierce forgotten good-things
The blowback against a bailout of Lehman would have been fierce. It is often forgotten, but the prevailing wisdom the day after Lehman fell was that its collapse was a good thing.
government may economy
The failure of Lehman may have allowed the government to do more to prop up the economy than it otherwise could.
thinking stories should
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.
agency light fire
Debt, weve learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your favorite: bankers, regulators, central bankers, politicians, overzealous consumers, credit rating agencies - but all require one similar ingredient to create a true crisis: too much leverage.
mean leader apologizing
In truth, a leader should either apologize, mean it and do something about it - or not apologize at all.
bailing failure fallen greater magnitude next orders politics risk truth version
In truth, in the fairy-tale version of bailing out Lehman, the next domino, A.I.G., would have fallen even harder. If the politics of bailing out Lehman were bad, the politics of bailing out A.I.G. would have been worse. And the systemic risk that a failure of A.I.G. posed was orders of magnitude greater than Lehman's collapse.
exactly invest lend money returns trade
When you can't lend or trade - and you can't invest with the leverage that juiced returns to support seven- and eight-figure bonuses - how exactly are you going to make money?
business five literally stay supposed york
My training really was at the 'New York Times,' you know. When I got there, I was literally supposed to stay there for five weeks, and I got lucky like nobody, you know, like nobody's business.
activism age behalf boards clearly directors engagement form helping rather seem simply taking toward work
In the age of activism that is clearly not going away, it would seem that some form of engagement from directors with shareholders - rather than directors simply taking their cues from management - would go a long way toward helping boards work on behalf of all shareholders rather just the most vocal.