CNBC’s Squawk Box co-anchor Andrew Ross Sorkin warned that a market crash “is coming” as he claimed that top corporate CEOs in America are too “scared” of what “criticizing” President Donald Trump could cost them.
The striking comments came during a sit-down with CBS 60 Minutes correspondent Lesley Stahl, with whom he reiterated his fears that the U.S. is reliving the 1929 Wall Street crash, the subject of his most recent book.
The Squawk Box co-anchor described a climate of anxiety among top tech executives who fear political retaliation from the White House if they publicly criticize the president or his policies.
“Most CEOs in America today are very scared to speak out publicly about anything,” Sorkin said. “They are so worried that they are going to be potentially attacked by the administration or regulated. They’re going to have a merger in front of some agency that’s not going to be allowed to go through. They are so nervous about criticizing anything that’s going on with this administration.”
“There are some economists who suggest that because Mr. Trump ties his success to the success of the market, that he’s not going to let anything like what happened in 1929 happen,” Stahl said, “and that we should feel secure because of that.”
“I think it’s hard to know how things get out of control,” he replied. “When confidence disappears, it happens like this.”
When pressed directly on whether another crash like the 1929 disaster could be ahead, Sorkin response was blunt: “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 can assure you, unfortunately, I wish I wasn’t saying this, we will have the crash,” he said.
Watch above via CBS.
The post CNBC’s Andrew Ross Sorkin Warns ‘Crash Is Coming’ — But CEOs Too ‘Scared’ to Stand Up to Trump first appeared on Mediaite.
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