Sandy Weill repudiates his pre crisis legacy, calls for re-instituting Glass-Steagall

By Edward Harrison On Jul 25, 2012

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.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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