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September 18, 2012 12:24 PM
Andrew Ross Sorkin mixes a message
One anti-Semitic protestor means what, exactly?
Andrew Ross Sorkin thinks Occupy Wall Street fizzled. Fair enough—he writes opinions, and in this one he has a lot of company. But he’s cherry-picked his evidence and one particular piece of it is rotten. It’s here: Given the way the organization — if it can be called that — was purposely open to taking all comers, the assembly lost...
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December 8, 2010 09:19 AM
Andrew Ross Sorkin: Fraud Triggered the Financial Crisis
A more important statement than you might think from the NYT's Wall Street guy
There was a tough column in The New York Times yesterday on how the feds' are going after the minnows and avoiding the sharks over the financial crisis. That the piece comes from Andrew Ross Sorkin, who's about as inside as they come on Wall Street (for better or for worse), I think is significant. First, Sorkin punctures Attorney General...
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May 10, 2011 09:05 PM
Audit Notes: “People Love It,” The New Nocera, NYT Parody Flop
Andrew Ross Sorkin has a good column on a panel of top financiers discussing financial reform and too big to fail banks. This is a nice lede: The irony was thick. Alan Schwartz, the former chief executive of Bear Stearns who oversaw its near-demise and subsequent government-aided rescue, was here at Michael Milken’s annual conference — a West Coast version...
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April 11, 2012 01:26 AM
Audit Notes: Dodger Money, Social News Apps, U.S. Mowing Bills
Andrew Ross Sorkin writes a tough column on the group of investors buying (or supposedly buying) the Los Angeles Dodgers for an eye-watering $2.15 billion. In addition to their own cash, Mr. Walter plans to use money from Guggenheim subsidiaries that are insurance companies — some state-regulated — to pay for a big chunk of his purchase of the Dodgers....
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August 3, 2011 07:48 PM
Audit Notes: Some Recovery, Tom Watson Profiled, Debt Myths
Calculated Risk gives us four indicators the National Bureau of Economic Research uses to call and date recessions and recoveries. They show just how far the economy has fallen since 2007: These graphs show that no major indicator has returned to the pre-recession levels - and most are still way below the pre-recession peaks. Real GDP is still 0.4 percent...
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April 19, 2011 08:36 PM
Audit Notes: Sorkin Hits Goldman, Agape at Capes, Preemption Doctrine
Andrew Ross Sorkin gets just about as close to saying "Goldman Sachs lied to Congress" as you're going to see. And he becomes the first person to mention in the Times that Senator Levin wants to refer Goldman Sachs to the Justice Department for possible criminal prosecution. The findings of the Congressional report are straightforward and damning. The Senate subcommittee...
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December 28, 2010 09:23 AM
Best of 2010: Dean Starkman
CJR's Kingsford Capital Fellow picks his top stories of the year
The Hamster Wheel. Why running as fast as we can is getting us nowhere. The Hamster Wheel isn’t speed; it’s motion for motion’s sake. The Hamster Wheel is volume without thought. It is news panic, a lack of discipline, an inability to say no. It is copy produced to meet arbitrary productivity metrics, it’s live-blogging the opening ceremonies, and matching...
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August 29, 2012 12:13 PM
CNBC: kid gloves for bankers, boxing gloves for bank critics
Interviews with Barofsky, Spitzer, and Krugman underscore the network's capture
We're all for aggressively skeptical interviewing—I've often wished we could import Brits to do our presidential interviews, for instance. But it's a problem when one group of people get interviewed adversarially and another group gets deferential treatment. That contrast has been clear on CNBC in the last few weeks in a series of interviews with liberal bank critics Neil Barofsky,...
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June 15, 2011 09:01 PM
Dealbook’s Goldman Debate
It’s the big Dealbook debate! In the red corner, there’s Andrew Ross Sorkin, defending Goldman Sachs from Senator Carl Levin’s accusations of egregious behavior during the financial crisis. Sorkin’s main point: that depending on how you measure it, Goldman might not have been quite as short mortgages as Levin suggests. And now, in the blue corner, we have Jesse Eisinger,...
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May 17, 2011 02:37 PM
Lowenstein Lets Wall Street Off the Hook
Not so fast.
Roger Lowenstein has a big piece out in Bloomberg BusinessWeek, an apology for Wall Street—duly celebrated by The New York Times's Andrew Ross Sorkin on Twitter as "courageous" and "probably right"—arguing "Wall Street: Not Guilty." What's with our elite financial journalists? Problem is, this piece is based on a straw man: that fire-breathing critics of Wall Street like Taibbi and,...
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February 15, 2011 12:45 PM
MIT Bloggers and Sorkin Take Down a Derivatives Study
Andrew Ross Sorkin has a good column this morning exposing yet another misleading campaign affiliated with the Chamber of Commerce. A Chamber-backed group commissioned a report from an outfit called Keybridge Research to show that derivatives legislation would cost jobs. Keybridge dutifully did so, coming up with 130,000 jobs that "could" be lost if firms are forced to put up...
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June 21, 2011 10:31 AM
Nocera vs Sorkin, Bank Capital Edition
One of the consequences of Joe Nocera's move to the NYT op-ed page is that his column now appears on the same day as that of Andrew Ross Sorkin. Which can sometimes result in a great lesson on the difference between how Wall Street is viewed from the outside and how it is viewed from the inside. Nocera devotes his...
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May 25, 2012 06:50 AM
Sorkin’s Glass-Steagall straw man
Of course its repeal contributed, directly and indirectly, to the financial crisis
Here's the headline for Andrew Ross Sorkin's column on Tuesday about Glass-Steagall and the financial crisis: Reinstating an Old Rule Is Not a Cure for Crisis No kiddin'. Let's see what else isn't a "cure for crisis": — Breaking Up Too Big to Fail Banks Is Not a Cure for Crisis — Stronger Capital Requirements Are Not a Cure for...
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September 8, 2012 02:38 AM
The Facebook blame game
The NYT's Sorkin shifts focus from the bankers
Like Jon Weil, I've got little sympathy for the folks who speculated on Facebook at $38, thinking it would double in price on day one but who instead three months later are sitting on 50 percent losses. Buying a stock priced at 100 times earnings in a company whose revenue growth is slowing sharply, whose costs are growing even more...
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May 12, 2011 08:41 AM
Too Big To Fail, The Movie
Over the weekend I watched the HBO movie version of Too Big To Fail, and I talked to Andrew Ross Sorkin about it on Monday. As you can probably tell from the movie trailer, it's got lots of dramatic music and equally dramatic moments -- Paul Giamatti (Ben Bernanke), for instance, telling a room of assembled politicians that he's...
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October 16, 2012 04:54 PM
Tuesdays with Andrew
Changing up a Dealbook ritual
An Andrew Ross Sorkin column is beginning to take on a ritualistic feel. Sorkin is The New York Times ’s M&A ace, Dealbook maven, CNBC host, he of the large Rolodex, author of the semi-official insider’s view of the financial crisis. The ritual goes like this: he writes something more or less sympathetic to the banks’ point of view,...
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