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. — Andrew Ross Sorkin Copy Share Image
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… — Andrew Ross Sorkin Copy Share Image
As a child, I always enjoyed - my parents used to have these little cocktail parties - and I always loved trying to get… — Andrew Ross Sorkin Copy Share Image
“Everyone thinks Goldman is so fucking smart,” he railed. “Just because Goldman says this is the right valuation, you shouldn’t assume it’s correct just… — Andrew Ross Sorkin Copy Share Image
The failure of Lehman may have allowed the government to do more to prop up the economy than it otherwise could. — Andrew Ross Sorkin Copy Share Image
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 -… — Andrew Ross Sorkin Copy Share Image
Debt, we've learned, is the match that lights the fire of every crisis. Every crisis has its own set of villains - pick your… — Andrew Ross Sorkin Copy Share Image
It's the people who have an incentive to find the problem who usually find the problem. — Andrew Ross Sorkin Copy Share Image
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… — Andrew Ross Sorkin Copy Share Image
Some billionaires like cars, yachts and private jets. Others like newspapers. — Andrew Ross Sorkin Copy Share Image
No one suggested Lehman deserved to be saved. But the argument has been made that the crisis might have been less severe if it… — Andrew Ross Sorkin Copy Share Image
“This generation of Wall Street CEOs could be the ones to forfeit America’s trust. When the history of the Great Recession is written, they can be singled out as the bonus babies who were so shortsighted that they put the economy at risk and contributed to the destruction of their own companies. Or they can acknowledge how Americans’ trust has… — Andrew Ross Sorkin Copy Share
“There are no atheists in foxholes or ideologues in a financial crisis. Ben Bernanke” — Andrew Ross Sorkin Copy Share Image
Wall Street is littered with clever plans to use financial instruments to change behavior - carbon trading, for example. Some have changed the world,… — Andrew Ross Sorkin Copy Share Image
