Wall Street Legend Sandy Weill: Break Up Big Banks
SHORT VIDEO CLIPS, 30 July 2012
by CNBC – TRANSCEND Media Service
It’s nothing less than a remarkable about-face. One of the architects of mega banking is now calling for the breakup of the world’s largest banks. Sandy Weill, formerly CEO of Citigroup, told CNBC:
“What we should probably do is go and split up investment banking from banking, have banks be the deposit takers, have banks make commercial loans and real estate loans, have banks do something that’s not going to risk the taxpayer dollars, that’s not too big to fail.”
Sanford “Sandy” Weill:
American banker, financier and philanthropist
Former Citigroup Chairman & CEO
Former Director Federal Reserve Bank of NY
Lifetime Member Council of Foreign Relations
Chairman Board of Trustees Carnegie Hall
Chairman of the Board of Weill Cornell Medical College
Founder & Chairman of the National Academy Foundation
Trustee Emeritus of Cornell University
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