Big Bank Champion Calls for Smaller Banks

Written by Pat's Papers | Thursday, 26 July 2012 7:43 AM

Former Citigroup CEO Sandy Weill called for banks to be smaller yesterday during a CNBC interview. “It was as if Napoleon had called for an end to military conquest,” says the Wall Street Journal. The big bank pioneer went on to say his change of heart was due to concern for the taxpayer—an interesting stance for a man who played a big part in bringing down the Glass-Steagall Act, a Depression-era law designed to control speculation and keep banks from doing anything too risky.

SOURCE: Wall Street Journal

blog comments powered by Disqus

Enter address below to get the morning headlines in your inbox (more details)

Editor's Pick

“Aisle of Man”

Beer. Condoms. Doritos. Ramen noodles—what more does a man need? Nothing, according to a Manhattan grocery’s new “man aisle.”

Favorites

U.S. Newspapers

International Newspapers

News

© 2012 - Newspat LLC - All Rights Reserved Pat's Papers is a review of content published in print and online by major news organizations.
Links to stories are provided to enable you to read the complete story and determine its accuracy.
Newspat LLC is not affiliated with the publishers of stories mentioned on Pat's Papers.
Site design and development by Hop Studios
Privacy Policy

New FTC guidelines mandate that we disclose seemingly obvious advertising relationships.
The advertisements on the site are, in fact, advertisements. Sometimes we are compensated simply for displaying an ad. Other times we are paid "per click" or receive
a commission if you make a purchase from the advertiser. We do not accept payment for content and do not choose content based on advertiser relationships,
but in cases when a story mentions a specific product we may post an adjacent Amazon.com link or other affiliate link that offers us a commission.

myspace visitor counter