“Equity is the cushion that protects financial institutions from unexpected changes in the value of their assets. The greater the leverage, the smaller the losses required to wipe out a company's equity, leaving it without enough money to repay the people who hold its debt.”

American writer and former New York Times reporter

Alex Norman Berenson is an American writer and former reporter for The New York Times. He is known for his thriller novels and for his book on corporate financial filings. His 2019 book, Tell Your Children: The Truth About Marijuana, Mental Illness and Violence, drew sharp criticism and provoked controversy. The response from many in the scientific and medical communities was strongly negative, and that debate remains a defining part of his public profile.