The fed puppeteer and the trader

Posted On 3:16 PM by emily |

29.9.10

As mentioned in my last post, I’ve been writing up an interview with Andrew Ross Sorkin, author of Too Big To Fail. It covers an EXHILARATING range of topics, from the pernicious effect of government bailouts to the hubris and pride of Wall Street’s darlings. It came out in yesterday’s City AM and you can read the first part of it here!

"I WANTED it to be like that Quentin Tarantino movie: every person should come away with a different picture. I wanted to almost do it with no judgment.”

Andrew Ross Sorkin is in London for the Samuel L Johnson literary awards after Too Big To Fail, his best-selling account of the financial crisis, was short-listed for the prize. But before heading off to a string of other engagements, he finds time for a leisurely iced tea with City A.M., to talk all things Wall Street.

His desire to write the book “without judgment” is hardly surprising coming from the star finance reporter of the New York Times, a paper that regards itself as a keeper of historical records.

But Sorkin has a further reason to write this particular story “without judgment”: his aim was to complicate the conventional narrative about “greedy bankers” bringing down the economy. “Part of the goal of the project was to put the reader in the room with them. When you get inside the room, your field of vision changes,” he says. His tactic is to take readers so close to the main characters of his story – characters that include former US Treasury secretary Hank Paulson and former Lehman Brothers CEO Dick Fuld – that we can see the dandruff on their collars.

…continue…

4 Response to 'The fed puppeteer and the trader'
  1. Anonymous
    http://www.emilynomates.com/2010/09/fed-puppeteer-and-trader.html?showComment=1285775348152#c5281375149251537079'> September 29, 2010 4:49 PM

    Good article - but damn I'm gonna have to buy another book!
    It would be interesting to see these events not just psychologically (although that's obviously crucial), but also anthropologically ie. in a full cultural setting.
    It seems untenable today that these institutions should be held up in isolation - citadels of 'spivs', or other such finger pointing. (It started in America - in a bank)

     

  2. emily
    http://www.emilynomates.com/2010/09/fed-puppeteer-and-trader.html?showComment=1285799308983#c5912534266985001259'> September 29, 2010 11:28 PM

    it's a compelling read - though too long.

    I'm not sure if "spivs" is the word, though these people are arrogant and detached from reality. But they are also just flawed like everyone else - but somehow unaware of the fact. An anthropological study would be funny - the idea makes me think of Svankmeier, a Czech film-maker, eg sketche slike this: http://www.youtube.com/watch?v=KQSdZWgflAA&has_verified=1

     

  3. Anonymous
    http://www.emilynomates.com/2010/09/fed-puppeteer-and-trader.html?showComment=1285831795874#c9126929778799579926'> September 30, 2010 8:29 AM

    (The 'spivs' was a Vince Cable ref!)
    I know a few anthropological studies have been made of scientific research centres and even the judiciary (France)! Sounds bizarre, but its facinating to see how an unspoken agenda can sometimes insinuate it's way into an institution that considers itself perfectly objective and well regulated. (AGW data?....even the Iraq War has that quality)
    Gonna look at Svankmeier!

     

  4. Anonymous
    http://www.emilynomates.com/2010/09/fed-puppeteer-and-trader.html?showComment=1285924393714#c8826053459450980398'> October 1, 2010 10:13 AM

    (GREAT films)