In a CNBC interview, former Citigroup Chairman and CEO Sandy Weill, one of the biggest proponents of bank deregulation, called for the dismantling of the superbanks made possible by the repeal of Glass-Steagall.
"What we should probably do is go and split up investment banking from banking, have banks be 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," Weill told CNBC.
Maybe Glass-Steagall wasn't such a bad idea...
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Maybe Glass-Steagall wasn't such a bad idea...
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"We've kept more promises than we've even made"
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"Of what meaning is the world without mind? The question cannot exist."
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Re: Maybe Glass-Steagall wasn't such a bad idea...
I totally agree. If a bank is too big to fail, then it is too big to exist.
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