Andrew Ross Sorkin

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Life's Perilous When You're Not Goldman Sachs

Jon Corzine learned that the hard way, Andrew Ross Sorkin writes

(Newser) - When Jon Corzine left Goldman Sachs, he spoke openly about turning MF Global into a “mini-Goldman.” It’s, um, not working out too well . Ask insiders why Corzine got away with so heavily leveraging the company to make risky trades, and they all say the same thing, Andrew... More »

Top F***ing Books About the Financial Crisis

Maybe all the profanity will keep you reading

(Newser) - There are so many books about the financial crisis, how does one choose which to read first? One method: Go for the one with the most instances of the word “fuck.” Conveniently enough, Paul Kedrosky has assembled a handy list. Not big on the idea of the f-word... More »

No-Show Bankers Show Who's on Top

With bailout funds repaid, Wall Street snubs the president

(Newser) - Obama’s meeting with top bankers yesterday spoke volumes about the new power dynamic between Washington and Wall Street—and not in the White House’s favor. Three top bankers, Lloyd Blankfein, John Mack and Richard Parsons, called in rather than showing their faces. Their excuse was weather that had... More »

Times Star Sorkin: Too Cozy With Wall Street?

Colleagues clash with Too Big to Fail author

(Newser) - Andrew Ross Sorkin isn't the only entrepreneurial writer in the New York Times stable, but he might be the most successful, with his DealBook blog and newsletter, his Times column, and now his bestseller, Too Big to Fail making him ubiquitous in the media these days. “It’s hard... More »

Stop Whining, Let Goldman Have Bonuses

$23B is galling, but at least the bank is sensible: Sorkin

(Newser) - On Thursday Goldman Sachs is set to announce its third-quarter results, but the talk of Wall Street is the size of this year's bonus pool—predicted to be more than $23 billion. That's the largest figure in the company's history and twice as much as it paid out in 2008,... More »

Former Fugitive Marc Rich Lost With Madoff

Disgraced financier's latest victim is a disgraced financier

(Newser) - Many of Bernard Madoff’s former clients are seeking legal recourse to recover their money, but onetime fugitive Marc Rich likely won’t be among them, Andrew Ross Sorkin writes in the New York Times. Rich, who lost $10 million to $15 million through a third party who invested with... More »

Feds Let Lehman Fail—Then Loaned It $138B Anyway

Paulson & Co. say cash was to 'facilitate orderly wind-down' of trades, but questions persist

(Newser) - After refusing to bail out Lehman Brothers, the Federal Reserve funneled $87 billion to a subsidiary through JPMorgan Chase on Sept. 15, then another $51 billion the next day. The feds say they aimed to “facilitate an orderly wind-down” of Lehman’s broker-dealer operations, Andrew Ross Sorkin writes in... More »

Bailout CEOs: Make Them Share Taxpayer Risk

When taxpayers have to take a stake, CEOs should have to do the same

(Newser) - As taxpayers become stakeholders in the very firms that made this economic mess, it’s become easy to say that losing CEOs should be stripped of their salaries, writes Andrew Ross Sorkin in the New York Times. But driving out good CEOs is no way to rebuild the banking sector.... More »

8 Stories