Home About Chat Users Issues Party Candidates Polling Firms Media News Polls Calendar Key Races United States President Senate House Governors International

New User Account
"A comprehensive, collaborative elections resource." 
Email: Password:

  Wall Street Legend Sandy Weill: Break Up the Big Banks
NEWS DETAILS
Parent(s) Issue 
ContributorRP 
Last EditedRP  Jul 25, 2012 12:54pm
Logged 0
CategoryInterview
News DateWednesday, July 25, 2012 01:05:00 PM UTC0:0
DescriptionFormer Citigroup Chairman & CEO Sanford I. Weill, the man who invented the financial supermarket, called for the breakup of big banks in an interview on CNBC Wednesday.

“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’s “Squawk Box.”

He essentially called for the return of the Glass–Steagall Act, which imposed banking reforms that split banks from other financial institutions such as insurance companies.
Share
ArticleRead Full Article

NEWS
Date Category Headline Article Contributor

DISCUSSION