Tuesday, August 20, 2013

Treat Their Children Well: Wall Street Hiring (Update)

Andrew Ross Sorkin, the editor of Deal Book has written a defense of the Wall Street practice of hiring the children of the well-connected.

I’m wondering if there isn’t something subtly autobiographical about Mr. Sorkin’s article.   Mr. Sorkin got his first job in the newspaper business as an intern at The New York Times when he was a Scarsdale High School senior.  His father is Laurence T. Sorkin, senior counsel at Cahill Gordon and Reindel.  Laurence Sorkin is a prominent antitrust attorney and has represented The New York Times, as well a many other major corporations and financial institutions.

There’s little doubt that Andrew Ross Sorkin is a talented journalist, and has worked very hard in creating Deal Book. However, I suspect that he got a bit of career boost because of his family connection.

China isn’t the only country that favors its “princelings”

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