Sandy Weill repudiates his pre crisis legacy, calls for re-instituting Glass-Steagall
Sandy Weill, former CEO of Citigroup, was on CNBC for two hours this morning. A 15-minute clip is provided below. In it he repudiates his pre-crisis "financial supermarket" legacy in suggesting that banks were too big and too leveraged. He openly advocates re-instituting a Glass-Steagall type of separation for banks and investment banks. He also supports mark to market.(Hat tip Scott)
Here are follow-up videos.
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