Overview

• In a 60 Minutes interview on Oct. 12, Sorkin said markets will eventually crash but he offered no forecast for timing or severity.
• He argued recent gains lean heavily on an artificial intelligence boom that may prove a short-lived sugar rush for the economy.
• Sorkin pointed to looser guardrails, saying SEC rules have grown less stringent and the Consumer Financial Protection Bureau is barely functioning.
• BlackRock CEO Larry Fink has urged opening 401(k)s to private investments, and he said the Trump administration is moving to change rules that currently limit such allocations.
• To illustrate speculative excess, Sorkin noted a meme cryptocurrency dubbed “Sorkin coin” that briefly recorded about $170 million in daily trading before activity collapsed.