Next Question with Katie Couric The Crash: What 1929 Has to Tell Us About 2025 with Andrew Ross Sorkin
Oct 15, 2025
Andrew Ross Sorkin, a renowned New York Times financial columnist and DealBook founder, dives into the chaos of the 1929 crash, revealing how well-intentioned leaders helped usher in catastrophe. He shares insights from his extensive eight-year research project, shedding light on key figures like Thomas Lamont and Jesse Livermore. Sorkin draws parallels between the volatility of the 1920s and today’s financial landscape, exploring issues like inequality and the hype surrounding AI. This captivating discussion highlights how history’s lessons still resonate in our modern economy.
AI Snips
Chapters
Books
Transcript
Episode notes
Leverage Fueled A Fragile Boom
- The 1920s boom was driven by easy credit that let ordinary Americans gamble on stocks using high leverage.
- This democratization of finance created celebrity financiers and a fragile market that encouraged groupthink.
Lamont The Schmoozer Who Tried To Manage Crisis
- Thomas Lamont ran J.P. Morgan behind the scenes and tried to control markets through private influence and dinners.
- His transcripts reveal intimate conversations with presidents and global leaders during the crisis.
Sunshine Charlie's Rise And Fall
- Charles "Sunshine" Mitchell built National City Bank into an icon who encouraged optimism and lending for speculation.
- His secret deals and eventual legal troubles show how personal risk-taking amplified the crash's fallout.
