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Andrew Ross Sorkin

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Some billionaires like cars, yachts and private jets. Others like newspapers. - Andrew Ross Sorkin
#Like
#Newspapers
#Others
#Private
#Some
Corporate tax reform is nice in theory but tough in practice. It most likely requires lower tax rates and the closing of loopholes, which many companies are sure to fight. And whatever new, lower tax rate is determined, there will probably be another country willing to lower its rate further, creating a sad race to zero. - Andrew Ross Sorkin
#Fight
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#Practice
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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
#America
#Enough
#Never
#Vote
#What If
Why do we have financial crises? Why do banks lose money? If history is any guide, it hasn't often been the result of speculative bets. It has been the result of banks making loans to individuals and businesses who can't pay them back. - Andrew Ross Sorkin
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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
#Act
#Better
#Care
#Congress
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If I have a spare second, I usually catch up on the many magazines I'm behind on or watch the latest movies on demand that I usually missed at the theater. I love magazines. My top three: Graydon Carter's 'Vanity Fair', Adam Moss' 'New York magazine' and David Remnick's 'New Yorker.' - Andrew Ross Sorkin
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#Magazine
#Movies
#New
#Three
Traditionally, we think that people with ideas are innovators - that Silicon Valley is the world of ideas. But within the hedge-fund world, they believe that they are men of ideas - that the trade is unto itself one of ideas. - Andrew Ross Sorkin
#Believe
#Ideas
#Men
#Valley
#World
Hard paywalls will never work because, just like at a newsstand, the reader likes to browse the cover and a few articles before choosing to buy. Even if the material is truly unique, a consumer likes to try a little before buying. - Andrew Ross Sorkin
#Hard
#Never
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#Unique
#Work
The genre of narrative business books that I love so much - the ones that have a you-are-there quality - was invented, or so it is said, in 1982 by David McClintick, who wrote 'Indecent Exposure,' a rollicking good read about a Hollywood scandal and the ultimate boardroom power struggle at Columbia Pictures. - Andrew Ross Sorkin
#Business
#Good
#Love
#Power
#Struggle
In truth, the best Bitcoin can hope for is to be a second-rate version of gold, if that. - Andrew Ross Sorkin
#Best
#Bitcoin
#Gold
#Hope
#Truth
The greatest economic power might in fact remain in the hands of the Federal Reserve. Economists credit the Fed's policy of keeping interest rates at historic lows with helping to pump up the economy and bring unemployment down. - Andrew Ross Sorkin
#Credit
#Hands
#Interest
#Policy
#Power
The euphoria around economic booms often obscures the possibility for a bust, which explains why leaders typically miss the warning signs. - Andrew Ross Sorkin
#Euphoria
#Often
#Signs
#Warning
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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
#Investment
#Law
#Politicians
#Surprise
In September 2008 - as Lehman Brothers filed for bankruptcy and AIG, the world's biggest insurance company, accepted a federal bailout - Senator John McCain of Arizona, in what was widely viewed as a political move, suspended his presidential campaign and called on Obama to rush back to Washington for a bipartisan meeting at the White House. - Andrew Ross Sorkin
#Back
#Company
#Political
#White
#World
Tiptoeing on a tightrope past insider trading laws may be deft and clever, but it doesn't make it right. - Andrew Ross Sorkin
#Clever
#Laws
#Make
#Past
#Right
It's the people who have an incentive to find the problem who usually find the problem. - Andrew Ross Sorkin
#Find
#Incentive
#People
#Problem
#Who
I think, with Hank Paulson, the concept of a bailout was anathema to him from day one. He was a Republican; he's a free marketeer. He believes in capitalism, and part of capitalism is believing in failure. And so the idea of bailing out an institution, I think, went against every part of him. - Andrew Ross Sorkin
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#Capitalism
#Day
#Failure
#Free
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. - Andrew Ross Sorkin
#Bitcoin
#Cards
#Good
#Investment
#Long
#Way
The moment a large investor doesn't believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance - politically fraught fiscal restructuring, austerity and debt rescheduling - it takes to defuse a sovereign-debt crisis. - Andrew Ross Sorkin
#Back
#Good
#Government
#Moment
#Patience
#Will
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