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.


Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. 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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