The euphoria around economic booms often obscures the possibility for a bust, which explains why leaders typically miss the warning signs. Andrew Ross Sorkin boombusteconomic Change image and share on social
As a child, I always enjoyed - my parents used to have these little cocktail parties - and I always loved trying to get the adults to tell me things they weren't supposed to say. And in many ways, that's what my job is today; it's getting people to tell me things that they probably are otherwise not supposed to say. Andrew Ross Sorkin adultchildcocktail share on social
It's the people who have an incentive to find the problem who usually find the problem. Andrew Ross Sorkin findincentivepeople Change image and share on social
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. Andrew Ross Sorkin bailoutblowbackcollapse Change image and share on social
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. Andrew Ross Sorkin actaffordablebig share on social
What if lawmakers never spoke to their constituents? Oddly enough, that's exactly how corporate America operates. Shareholders vote for directors, but the directors rarely, if ever, communicate with them. Andrew Ross Sorkin americacommunicateconstituent share on social
Since JPMorgan Chase announced its surprise $2 billion-and-growing trading loss, there have been renewed calls from economists, pundits, and politicians to reinstate the Glass-Steagall Act, a Depression-era law that prevented commercial banks from participating in investment banking activities. Andrew Ross Sorkin actactivityannounce share on social
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. Andrew Ross Sorkin bailoutsbenbernanke Change image and share on social
Debt, we've 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. Andrew Ross Sorkin agencybankercentral share on social
The failure of Lehman may have allowed the government to do more to prop up the economy than it otherwise could. Andrew Ross Sorkin alloweconomyfailure Change image and share on social