Sandy Weill: Break up the big banks - Jul. 25, 2012

English: Sanford Weill outside Waverly Inn restaurant in New York City on December 17, 2007. (Photo credit: Wikipedia)

Sandy Weill: Break up the big banks - Jul. 25, 2012:
Reverse course?  Weill seemingly admits the repeal of Glass-Steagall was a mistake.

"The man responsible for creating Citigroup -- the world's first financial supermarket -- said Wednesday that the nation's largest banks should be broken up in order to protect taxpayers.

Former Citigroup chairman Sandy Weill -- who engineered a series of corporate takeovers and lobbying efforts to create Citigroup -- explained during an interview on CNBC why he now thinks a firewall between commercial and investment banks is needed."

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