Andrew Ross Sorkin

This bill had been sitting around for a while, and he was slow walking Carter Glass in so many different ways.

By the way, interestingly, Roosevelt was not really for the FDIC, which was also a piece of this bill, effectively insuring bank deposits.

Roosevelt originally wasn't even for that either.

But there was a whole bunch of sort of efforts afoot to put all of these pieces in place to the point where I found a letter that Carter Glass had written that actually walked through the whole thing where he was basically complaining that the bill wasn't really his and had been effectively taken over by the bankers.

And there's a section of the bill that was physically written by the son-in-law of Rockefeller.

You know, first of all, Andrew Mellon was a capitalist with a capital C in just every way.

You know, if you had great success, God bless you.

If you had great failure, God bless you.

He did not – he wasn't there to pick up the pieces in any way, shape or form.

I would argue, by the way, that the American dream shifted in the 1920s.

I actually think that the dream that shifted in the 1920s, for better or worse, is the dream that exists today in America here today and I would argue on TikTok and everywhere else.

Which is – I think prior to 1920, it really was more of a Horatio Alger kind of story that people were pursuing.

And I think in the 20s, in part because of the stock market and everything else and industrialization and going to big cities and everything else with the sort of elites that they saw, it became about the lottery ticket.

It became about – I don't know about a get-rich-quick scheme, but it became about getting rich.

Getting super – it wasn't just about having a better life than your parents.

It was about something else.

It was about sort of reaching for the stars in this other way.

And that was partially, by the way, a function of the media.

This is the first time big magazines were all of a sudden putting CEOs on the cover of these magazines.

They used to have Babe Ruth and Charles Lindbergh on the cover.