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
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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.
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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?
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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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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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Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.
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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.