A Quote by Andrew Ross Sorkin

In truth, in the fairy-tale version of bailing out Lehman, the next domino, A.I.G., would have fallen even harder. If the politics of bailing out Lehman were bad, the politics of bailing out A.I.G. would have been worse. And the systemic risk that a failure of A.I.G. posed was orders of magnitude greater than Lehman's collapse.

Andrew Ross Sorkin

Quote Topics

Bad Bailing Out Been Collapse Domino Even Failure Fairy Fallen Greater Harder Magnitude Next Orders Out Politics Risk Systemic Tale Than Truth Version Were Worse Would

Quote Author

Andrew Ross Sorkin
American - Journalist
Born: February 19, 1977

So, it's pretty crazy. Look, we're bailing out Wall Street, we're bailing out banks, we're bailing out car companies. In fact, did you know there's a special box on your tax form this year you can check if you want a portion of your taxes to actually go to running the government?

Jay Leno

The blowback against a bailout of Lehman would have been fierce. It is often forgotten, but the prevailing wisdom the day after Lehman fell was that its collapse was a good thing.

Andrew Ross Sorkin

Bailing out people who made ill-advised mortgages makes no more sense that bailing out people who lost their life savings in Las Vegas casinos.

Thomas Sowell

When I left my job at Lehman Brothers to start a company, my best friend's mother said, 'How could you leave a sure thing like Lehman to do a silly carpool startup?' That was three months before Lehman went bankrupt.

John Zimmer

Remember we had two Democratic houses of Congress along with the [Barack] Obama administration that laid out those policies before they lost Congress because people were very disappointed in what the Obama administration did - bailing out Wall Street instead of bailing out Main Street. So as someone who follows the climate very closely, there's no question that "all of the above" has been an absolute disaster.

Jill Stein

If Lehman Brothers had been a bit more Lehman Sisters ... we would not have had the degree of tragedy that we had as a result of what happened.

Christine Lagarde

No one suggested Lehman deserved to be saved. But the argument has been made that the crisis might have been less severe if it had been saved, because Lehman's failure created remarkable uncertainty in the market as investors became confused about the role of the government and whether it was picking winners and losers.

Andrew Ross Sorkin

I often say to entrepreneurs, 'If Lehman Brothers were Lehman Brothers & Sisters, it wouldn't have gone into bankruptcy.'

Shinzo Abe

Most of the time, your risk management works. With a systemic event such as the recent shocks following the collapse of Lehman Brothers, obviously the risk-management system of any one bank appears, after the fact, to be incomplete. We ended up where banks couldn't liquidate their risk, and the system tended to freeze up.

Myron Scholes

In our equities business, 49 of the 50 most important Lehman clients are back doing business with us. The flows are 75 to 80 per cent of what they were prior to the bankruptcy. The issues which damaged Lehman were around commercial mortgages and illiquid private equity assets.

Bob Diamond

I mean there is no capital requirements to it or anything of the sort. And basically, I said there were possibly financial weapons of mass destruction, and they had them. They destroyed AIG. They certainly contributed to the destruction of Bear Sterns and Lehman. Although Lehman had other problems, too.

Warren Buffett

The failure of Lehman Brothers demonstrated that liquidity provision by the Federal Reserve would not be sufficient to stop the crisis; substantial fiscal resources were necessary.