“Too Big To Fail” Looks Behind The Scene At Financial Crisis

andrew ross sorkinNew York Times business reporter Andrew Ross Sorkin to dish on those who were “Too Big To Fail”

by Dan Bloom

NEW YORK (RUSHPRNEWS)10/01/2008-– The financial meltdown is melting down faster than words can keep up with, and where this all ends is anybody’s guess. But if you can wait a while, there’s a good book coming down the road next year from ace New York Times business reporter Andrew Ross Sorkin.

Titled “Too Big to Fail,” the book will be “a behind-the-scenes account of the personalities and policies that led to the biggest debacle in American finance since the Depression” according to Publishers Lunch. Doing the editing chores will be , Rick Kot at Viking Books in New York, with David McCormick at McCormick & Williams Literary Agency serving as Sorkin’s literary agent for the book.

Sorkin is a veteran Times reporter, but he’s just in his early 30s. He joined the Times in 1995 and was appointed as chief mergers and acquisitions reporter in 2000 after having served as the newspaper’s European mergers and acquisitions reporter based in London. He is also the founding editor of DealBook (nytimes.com/dealbook), an online daily financial report published by The Times, and he writes a column of the same name for the paper on Sundays.

His backgound in covering financial news over the years? It’s impressing reporting: He broken news of deals including Chase’s acquisition of J.P. Morgan and Hewlett-Packard’s acquisition of Compaq. He also spearheaded The Times’ coverage of Vodafone’s $183 billion hostile bid for Mannesmann, resulting in the world’s largest takeover ever.

He also broke the news of I.B.M.’s sale of its PC business to Lenovo, Johnson & Johnson’s $25 billion acquisition of Guidant and Symantec’s $13 billion deal for Veritas.

Sorkin has also helped lead much of the paper’s coverage of the nation’s largest corporate scandals including the collapse of Enron and Adelphia and the much-publicized trials of former Tyco International chairman L. Dennis Kozlowski and former Credit Suisse First Boston banker Frank P. Quattrone.

So expect a very insightful book with “Too Big to Fail”. And given the times we live in, expect a huge bestseller, with foreign editions in over 20 languages.

As stated above, Sorkin began writing for The New York Times in 1995m but he did it under very unusual circumstances. At the time he started writing for the Gray Lady, he hadn’t yet graduated from high school! Later, he went to Cornell University and graduated in 1999.

During the recent financial turmoil, Sorkin was said to be running on “two hours sleep” on some nights. He was also quoted as telling reporters that while today’s shocking, horrific events might seem “horrific,” “you’ll look back and this will be a good thing”. His book will tell all. Can you wait?

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ABOUT THE AUTHOR: Dan Bloom is a regular contributor to RUSHPRNEWS and lives in Taiwan, where all his money — what little he has! — is in New Taiwan Dollars. Email the author at danbloom@rushprnews.com