Bloomberg Talks Andrew Ross Sorkin Talks Newest Book, Comparison to Modern Times
Jan 15, 2026
Andrew Ross Sorkin, a renowned financial journalist and bestselling author, discusses his latest work on the 1929 stock market crash. He highlights how today's safeguards can prevent a similar disaster but warns about potential policy mistakes. Sorkin also explores the role of technology in accelerating bank runs, the dangers of private credit, and the impact of social media. He delves into wealth inequality, Fed independence, and historical influences like Wall Street's astrologer, Evangeline Adams. Ultimately, he advocates for humility over hubris in today’s market.
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Structural Protections Changed The Game
- Modern safeguards like real-time data, the SEC, FDIC and bank capital make a 1929 repeat less likely today.
- Policy mistakes after a crash, not just the crash itself, turned 1929 into the Great Depression.
Throw Money At Crises — But Watch Debt
- In a crisis, the playbook is to 'throw money at the problem' to stabilize markets and avoid depression.
- Watch government debt levels because a large rescue could trigger bond-market stress and austerity risks.
Fast Tech Can Amplify Runs
- Modern tech spreads accurate information instantly, which can accelerate runs and panics unlike in 1929.
- Social media can turn truthful alerts into rapid mass action, as seen with recent bank runs.
