Wed Jul 25, 2012, 09:48 PM

sarcasmo (13,550 posts)

Break up big banks, former Citigroup CEO Sanford Weill urges

Source: LA Times

Snip< "I think 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. And have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail," Weill, the former chief executive and chairman of Citigroup, said on CNBC's "Squawk Box."

Read more: http://www.latimes.com/business/money/la-fi-mo-weill-citigroup-break-up-big-banks-20120725,0,2305011.story

7 replies, 1632 views

Reply to this thread

Always highlight: 10 newest replies | Replies posted after I mark a forum

Replies to this discussion thread

7 replies	Author	Time	Post
Break up big banks, former Citigroup CEO Sanford Weill urges (Original post)	sarcasmo	Jul 2012	OP
Wow...	dtom67	Jul 2012	#1
Had to wait until he left the post to tell the truth.	sarcasmo	Jul 2012	#2
yeah the thing everybody knows needs to be done but it is still impossible.	limpyhobbler	Jul 2012	#3
I don't think it's impossible, tough yes, impossible no.	sarcasmo	Jul 2012	#4
oops you're right	limpyhobbler	Jul 2012	#6
This is the same guy..	sendero	Jul 2012	#5
I read his full interview.	Wolf Frankula	Jul 2012	#7

Response to sarcasmo (Original post)

Wed Jul 25, 2012, 10:48 PM

dtom67 (415 posts)

1. Wow...

Notice how its always the " ex " CEO's or guys who just quit Wall Street that tell the truth ?

Maybe we could get G-Stgl back if the Banks weren't spending Gozillions of dollars to prevent it.

Nah...

The Wealthy have decided that this Populist experiment ( the USA ) must end. Even the limited Democracy that we have is too big an inconvenience for them.

Nothing will happen with Libor other than a few sacrificial lambs; it will be business as usual.

Nothing will change about the Big Casino Derivatives Game that the banks play. They will keep gambling and, if they lose, the tax payers ( 99% ) will pay for it.
Rinse and repeat until there is no effective government.

The "Austerity State " will replace the so-called "Welfare State".

And we will not need to capitalize the Word " Democracy" anymore....

Reply to this post

Response to dtom67 (Reply #1)

Wed Jul 25, 2012, 11:16 PM

sarcasmo (13,550 posts)

2. Had to wait until he left the post to tell the truth.

Welcome to D/U .

Reply to this post

Response to sarcasmo (Original post)

Wed Jul 25, 2012, 11:42 PM

limpyhobbler (6,637 posts)

3. yeah the thing everybody knows needs to be done but it is still impossible.

Reply to this post

Response to limpyhobbler (Reply #3)

Thu Jul 26, 2012, 08:50 PM

sarcasmo (13,550 posts)

4. I don't think it's impossible, tough yes, impossible no.

Reply to this post

Response to sarcasmo (Reply #4)

Thu Jul 26, 2012, 09:31 PM

limpyhobbler (6,637 posts)

6. oops you're right

I don't like that impossible word too much myself.

This doesn't seem too likely though.

Reply to this post

Response to sarcasmo (Original post)

Thu Jul 26, 2012, 08:58 PM

sendero (25,000 posts)

5. This is the same guy..

... that PUSHED HARD to end Glass Stegall back in the late 90s.

How does it feel to be UTTERLY AND COMPLETELY WRONG Sandy? How does it feel to go down in history as one of the architects of the permanent malaise we now find ourselves in?

Well, I guess a renunciation is a lot more than we will get from most of the fuckers responsible for this fiasco.

Reply to this post

Response to sarcasmo (Original post)

Thu Jul 26, 2012, 10:57 PM

Wolf Frankula (343 posts)

7. I read his full interview.

He's right. Too big to fail is too big to manage. Time to break up the big banks.

Wolf

Reply to this post

Latest Breaking News (Forum)