Andrew Ross Sorkin, co-anchor of CNBC’s “Squawk Box,” has raised alarms about an inevitable stock market crash. He also claims that American corporate leaders feel too intimidated to openly criticize President Donald Trump. Sorkin shared these views on CBS’s “60 Minutes” while discussing his book, “1929: Inside the Greatest Crash in Wall Street History – and How It Shattered a Nation.” Speaking with correspondent Lesley Stahl, he highlighted the political anxiety affecting corporate leaders.
Sorkin remarked, “Most CEOs in America today are very scared to speak out publicly about anything. They worry about potential attacks or regulation by the administration. They’re concerned that if they criticize, a merger they propose might not pass regulatory approval.”
The financial journalist also expressed fears about an impending financial crisis. Sorkin attributes this to an artificial intelligence-driven “bubble” and the rollback of post-crisis financial regulations. He sees these as mirroring the speculation-heavy environment that preceded the Great Depression.
Stahl discussed the role business leaders should play in the current economy. She mentioned economists who believe investors have a safety net because Trump links his political success to the stock market’s performance, suggesting he would take measures to avoid another 1929-style collapse. Sorkin disagreed, expressing skepticism about the sustainability of current market highs.
Sorkin added, “I think it’s hard to know how things get out of control. When confidence disappears, it happens quickly,” illustrating his point with a snap of his fingers. When asked if a collapse as significant as the 1929 crash could happen again, Sorkin was clear in his response. “The answer is, we will have a crash. I just can’t tell you when, and I can’t tell you how deep. But I assure you, unfortunately, we will have the crash.”
Joshua Q. Nelson, a reporter for Fox News Digital, contributed to this report. Nelson covers cultural trends, education, and public policy. He has reported extensively on reparations, the Department of Education, and immigration issues since joining Fox News Digital in 2019.