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Andrew Ross Sorkin on worrying similarities between Wall Street today and 1929's pre-crash market

2025-10-13 News & Politics
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Andrew Ross Sorkin Warns of Inevitable Market Crash Echoing 1929

Financial reporter Andrew Ross Sorkin confirms that a market crash is inevitable, driven by current speculation, unprecedented debt levels, and the erosion of regulatory safeguards put in place after 1929.

Short Summary

  • Market highs resemble the unsustainable run-up preceding the 1929 collapse, now fueled by AI investment speculation.
  • Regulatory "guard rails" designed to protect average investors are actively being dismantled, mirroring a dangerous historical trend.
  • Experts debate whether current massive private investment access for retail investors represents democratization or increased systemic risk.

This conversation features financial journalist Andrew Ross Sorkin, who draws sharp parallels between the speculative boom of the 1920s and the current market environment. Understand why deregulation and risky asset classes are creating conditions ripe for a significant downturn.

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Description

Stocks on Wall Street have rallied in recent months, but author Andrew Ross Sorkin sees a crash coming. The question is: when will the bubble pop, and how much will the market slump when it does? #news #finance #economy "60 Minutes" is the most successful television broadcast in history. Offering hard-hitting investigative reports, interviews, feature segments and profiles of people in the news, the broadcast began in 1968 and is still a hit, over 50 seasons later, regularly making Nielsen's Top 10. Subscribe to the "60 Minutes" YouTube channel: https://youtube.com/60minutes Watch full episodes: https://cbsnews.com/60-minutes/full-episodes/ Get more "60 Minutes" from "60 Minutes: Overtime": https://cbsnews.com/60-minutes/overtime/ Follow "60 Minutes" on Instagram: https://instagram.com/60minutes/ Like "60 Minutes" on Facebook: https://facebook.com/60minutes Follow "60 Minutes" on X: https://twitter.com/60Minutes Subscribe to our newsletter: https://cbsnews.com/newsletters/ Download the CBS News app: https://cbsnews.com/mobile/ Try Paramount+ free: https://paramountplus.com/?ftag=PPM-05-10aeh8h For video licensing inquiries, contact: [email protected]

Top Comments (10)

@jimmykelly2809 2025-10-13

Somebody from inside the White House made money on a short position off btc 24 hours before the tweet went out. Coincidence?

1.4k 91 replies
@bearhug98 2025-10-13

Listening to BlackRock as a normal investor is like asking the thief for your password suggestions

592 18 replies
@ginobozzi3954 2025-10-13

Good old BlackRock. Always involved with everything. Don’t listen to what they say. Watch what they do. True Story.

558 24 replies
@maxrothchild9150 2025-10-13

They say ‘democratizing finance,’ but that’s code for ‘making you responsible when it collapses.’ Your 401(k) already fuels Wall Street — now they want your blessing for the next bailout. The U.S. is running on borrowed credit, and they’re gambling it away. If it crashes, let it crash — no more rescuing billionaires with taxpayer money.

167 6 replies
@jeremypearson6852 2025-10-13

We’re already seeing a disturbing rise in auto loan defaults, so who’s to say what’s next.

73 2 replies
@Tombstonedd 2025-10-21

Am I the only one whos noticed dudes left eye😳.

44 7 replies
@VegasVaron 2025-10-13

The fact is that the vast majority of private equity firms do NOT consistently outperform the S&P500. The only people who make money in private equity are the mangers and owners of private equity!

25 1 replies
@JohnWSmartNow 2025-10-14

Blackrock IS THE PROBLEM. Don't ask a cannibal for dining tips.

23
@captainsalty9022 2025-10-14

My grandfather sold his seat on the American stock exchange in 1928. He did that because, as my father told me, he thought there were too many people coming into the market. He spent the depression growing oranges in Florida while my father went to college.

22
@SurfCityBill 2025-10-13

The last place a common investor should invest is a speculative private equity startup

6

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