Sandy I. Weill, former CEO and President of Citibank suggests the banks break up investment banking from personal banking.
*The banking industry has been reeled in by President Obama.
When he came into office the banking industry was running loose deregulated and offering predatory loans to those who could least afford to take chances with their money.
But a major culprit in introducing “big banking” has turned over a new leaf.
Sandy I. Weill is the former CEO and Chairman of Citibank, one of the largest banks in the world, and the inventor of the “financial supermarket.”
But Weill has been thinking about his theories since leaving Citibank and suggests that it may not be a great idea that investing, lending, and personal banking should be combined, (more…)
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