Sanford I. "Sandy" Weill (born March 16, 1933) is an American banker, financier and philanthropist. He is a former chairman and chief executive of Citigroup.
Jamie Dimon Wall Street Bill Clinton Matt Taibbi Sacha Baron Cohen Great Depression John Reed Sonoma State University Denzel Washington New York United States New York Times Alan Greenspan Citigroup Inc Phil Gramm Paul Volcker
Attorney General Eric Holder was roundly criticized when he admitted recently some banks are too big to prosecute because "if you do bring a criminal charge, it will have a negative impact on the national economy, perhaps even the world economy," but he's right. They're too big to jail and too big to fail. The real blame lies with the White House and Congress who refuse to do what the Dallas Fed, Fed governor Dan Tarullo, and even Sandy Weill have proposed: cap the size of the biggest banks.
ROHNERT PARK — Opening the 2013 Economic Outlook Conference at Sonoma State University’s Green Music Center on Wednesday, Sandy Weill, former chairman and top executive of Citigroup and a major donor to the project, pointed to the upper seats of the concert hall that his contributions had helped to…
Sandy Weill, former Citi CEO & career white-collar criminal: “We should split up investment banking from banking"
Sandy Weill - 25 People to Blame for the Financial Crisis His lobbying shattered Glass-Steagall Act w/
Sandy Weill, the banking titan who built Citigroup into a financial supermarket, says break up the Big Banks.
Too big to fail banker concedes banks are too big to fail
Sandy Weill, who pushed for the repeal of Glass-Stegall to be able to form Citigroup, is now arguing that Big Banks should be broken up.Sic!
Sandy Weill has said in his dealings that if there are no leaks, it's an indication that the deal is good
Business Journal and Sonoma State University present the 2013 Economic Outlook Conference: “Game-Changers: Innovations and Leaders Transforming the North Bay Economy,” Wednesday, Feb. 27, 2013, 7:30-11:30 a.m. at the Weill Hall at the Green Music Center. Economic outlook: Rob Eyler, Ph.D., professor, Sonoma State University School of Business and Economics Keynote speaker: Sandy Weill, former chairman and CEO of Citigroup and the lead donor for the Green Music Center
welcome to brother, it's been a while, we need to wil' out with Sandy Weill again!
The most innovative thing Citi did was to retire Sandy Weill. Sandy, how does it feel to destroy a great Bank and screw its employees?
Sandy Weill, former Chairman and CEO of Citigroup, is now saying that the big investment…
Frank Macchiorla, the NYC Schools Chancellor who partnered w/Sandy Weill NAF has died. Thank you for your leadership
Dodd-Frank, 2,300 pages of regulation, could be written in a dozen pages, retired Citigroup head Sandy Weill told me recently.
Is 15 CPW's heyday over? Despite the stratospheric sales prices at 15 Central Park West over the last few years -- the most obvious being Sandy Weill's $88 million, record-obliterating sale -- some observers say that the previous numbers were inflated and that sales prices at the building are due to slump, the Wall Street Journal reported. In 2012, only five apartments at the building, where celebrities of all sorts -- from Denzel Washington to Daniel Loeb -- reside, have sold. That number was 17 last year and 15 in 2010, according to data from residential brokerage Brown Harris Stevens. [more]
Sandy Weill: bring back Glass-Steagall, welcome the Creative Economy - via
Two powerful federal laws, Bank Holding Co Act and Glass-Steagall Act stood in our way… Sandy Weill
JICNY Drinks Night Sunday night, Nov 18, at 7:30pm At 15 CPW, a Celebrity Venue Enjoy our Specialty Wines... ...and Gourmet Desserts. The fun continues when you join friends old and new for an evening at the luxury home of some of New York's stars. 15 Central Park West venue's celebrity residents include or have included Sting, Norman Lear, Denzel Washington, Bob Costas, Goldman Sachs CEO Lloyd Blankfein, former Citigroup executive Sandy Weill, and professional baseball player Alex Rodriguez. You'll receive Star treatment as our guest. Space is limited so buy your tickets now! WHEN: Sun, Nov 18, 2012 TIME: 7:30 PM WHERE: 15 Central Park West (btwn W. 61 and 62 St) COST: $30 online till 6pm, $40 at the door - includes 2 raffle tickets SIGN-UP: www.jicny.com/events For list of all JICNY events visit: www.jicny.com/events
Do you think Phil Gramm will ever follow Sandy Weill: do an about-face on Glass-Steagall?
Byron Dorgan on the passing of which repealed Glass-Steagall Act FF 5 No honor in Sandy Weill's pen
Interesting that went after Sandy Weill here since Weill gives $100K/yr to ProPublica
I was aVP at Citi. Sandy Weill sent a memo around asking us to contribute to a PAC for unnamed people. I declined. No problem.
Sandy Weill, gave Cornell medical college a generous endowment, so the uni changed its name to Weill Cornell Medical college!
yeah that would be a VIP! I think it belongs to or was for Sandy Weill!
Jim Bianco showing Citigroup Surprise Index chart. Can't find the part where Sandy Weill comes out in favor of Glass Steagall
Sandy Weill puts his name on (stunning) concert hall while Sonoma State deals w more cuts. Paul Liberatore in
Clinton and Robert Rubin (Goldman Sachs, Citigroup and Sandy Weill) did FINANCIAL DEREGULATION which “caused” the Great Recession
Ends up Jamie Dimon, CEO of JPMorgan Chase, nearly became the chief executive of another prominent company instead. After Citigroup CEO Sandy Weill fired Dimon in 1998 because he wanted to become CEO himself, Dimon contemplated moving into a completely different industry, William D. Cohan and Bethan...
Bill Clinton & Sandy Weill thought that Barrack.that's why we lost the Glass–Steagall Act.
"Things don’t just happen.It takes blood, sweat, tears, as well as money" Sandy Weill on Sonoma's new music hall
This is a statement that is probably going to change the political landscape, considering how much Sandy Weill had to do with this mess. Most people don't seem to know the story of Weill basically playing chicken with the Clinton administration. …
I just saw Bill Clinton's commercial about Republican's wanting to Deregulate the banks ... Oh Billy Boy, do you think we have such a short memory? If so, Let me remind the masses: The Gramm-Leach Bill deregulating the banks was passed by Bill Clinton's administration. Clinton's head of the Department of Treasury (Robert Rubin) pushed the bill through and then took a job at Citibank, who had the most to gain since they had already started a merger with Travelers Group Insurance. President Clinton gave the pen he used to sign the bill into law to Sandy Weill, the CEO of Citibank, which is now displayed in Citibank headquarters. Everyone blames the republicans for the down fall of the economy and the housing crisis because it happen during "W"s Presidency. But, Remember that it took several years after the subprime loans kicked in after deregulation, for the whole debacle to begin failing. The people that took out ARMs that had 2, 3, or 5 years before their rates went up, hoping their income would also go ...
While housing prices across the United States are still well below pre-crisis peaks, the very top of the Manhattan home market continues to shatter price records. The $88 million sale of this apartment at 15 Central Park West in December set a record for the highest price ever paid for a Manhattan apartment. (Former Citigroup boss Sandy Weill once lived there.)
1) That's not an up-to-date list. 2) Sandy Weill is Jewish, so, that's 1!
Sandy Weill wants to cut Dodd–Frank to a few pages. He's taking August off, but he'll get back to figuring it all out in Sept.
When Sandy talks we should listen...
Citigroup's Sandy Weill backs separation of high street and investment banking
Reinstating Glass Steagall is "rooted in a misconception that dull equals safe" Jeffery Harte on Sandy Weill
Sandy Weill is a pioneer in legacy arbitrage...
Agreed. Especially since Sandy Weill's mea culpa on CNBC, or the "Oops, I ruined the economy" interview.
Glass-Steagall half empty or half full? Sandy W now says bring it back... Kinda like an assassin turned pacifist.
Reinstate the Glass-Steagall Act NOW! John Reed & Sandy Weill have finally apologized for their idiocy, so put it back!
“The top 400 at each company should also have their net worth on the line every day of every year”
Sandy Weill had a change of heart, saying the largest banks should split up to protect
If u've not read it already this post on Sandy Weill is definitely worth your time
Pretty decent interview with the former FDIC Chairman yesterday on CNBC. She agrees with Weill...
Insight: Banks bristle at breakup call from Sandy Weill via
"What we should probably do is go and split up investment banking from banking," says Sandy Weill, ex-CEO of
Sandy Weill calls for breakup of Big Banks...like the one he built at Citigroup
Mr. Scheer, have you commented on Sandy Weill's July 25th CNBC interview, or "Oops, I ruined the American Economy" remarks?
Missed that when it came out : Sandy Weill, main advocate of the repeal of Glass-Steagall, now wants to bring it back
Rethinking Capitalism: Sandy Weill Says Bring Back Glass-Steagall - Forbes. But this will be of no avail via
Paul Ryan, who voted for the Glass-Steagall repeal in 1999, today says banks should not be too big to fail. And he differs with Wall Street on some other points as well.
In what the Huffington Post today called “a stunning reversal,” Sandy Weill, the former Citigroup CEO, now believes that the mega-banks need to be broken-up into smaller banks for the financial sys...
Sandy Weill: Break up the Big Banks -
Sandy Weill talked about busting Glass-Steagall in his autobiography: "It gave me enormous satisfaction."
Hashtag for this morning's breakfast with CFTC Chair Gary Gensler is we will ask about incredible Sandy Weill comment on
Sandy Weill: Big Banks see red when a pot calls the kettle black
Anything about the biggest player on Wall Street is a must read. This guy has way more power and influence than the UN, aliens, Monsanto or whoever your bogeyman is. Probably more power than the POTUS, if you discount the nukes.
When Sanford Weill speaks, people listen. And what Sandy Weill, once arguably the nation's
Show star got the comedy gene from his Dad! "Ace" Greenberg compares Sandy Weill to Sacha Baron Cohen:
25 July 2012 CNBC Sanford Weill is Fmr. Citigroup Chairman & CEO. He tells CNBC it's time to separate investment banks from commercial banks. The truth hurts...
Tearing Down the Walls: How Sandy Weill Fought His Way to the Top of the Financial World. . .and Then Nearly Los...
Former Citigroup CEO Sanford I. "Sandy" Weill now says he's in favor of strong banking regulations, but where was he when Wall Street was raking in record pr...
Weill had $792M in Citi stock when he left in in 2003. Now worth $43M. via
Sandy Weill is speaking the right language now.
Why isn't Sandy Weill treated as a crook? He not only violated the law, but arrogantly flaunted it. Yet the system treats the criminal acts of Wall Street Royals like him as the by-product of "financial innovation." Far from criminal, you see,
Another great article by Taibbi, pointing out the absurdity of Sandy Weill calling for breaking up the mega-banks...
That's Not Sandy Weill, It's ... Borat? via Naw, he's too big to be impersonated
first response to Sandy Weill's response was laughter. "I was not surprised."
More Dealbook: Ace G-despite caving to Warren Spector's override of Bear's cardinal rules-is amusing
Absolutely, CitiGroup founders Sandy Weill/John Reed apologizing 4 its creation- calling for restoration of the Glass-Steagall Act
If Sandy Weill and Jamie Dimon are like the boys in Suits, I wonder who'd be their paralegals and secretary. ***
Gotta to Know: What was your impressions of Sandy Weill's "Oops, I'm sorry I ruined the economy" comments on CNBC?
Interested in understanding causes of the GFC? This will help >> Sandy Weill's Bank Breakup Hindsight...
Bankers stumped by Weill's call to break up banks:
Ace Greenberg is conviced it was Sacha Baron Cohen calling for breaking up the Big Banks, *not* Sandy Weill -
Human beings are pretty simple. They do what they are rewarded to do. That is especially true on Wall Street.
Today on Bloomberg TV's Market Makers, former Bear Stearns CEO and JPMorgan Chase & Co. (NYSE:JPM) Vice Chairman Emeritus Ace Greenberg talked about Sandy Weill’s recent comments about breaking up Big Banks
So ARS lets Sandy Weill off completely and so now goes after Meredith Whitney.Brilliant strategy.
Alan C. Greenberg, ex-chief of Bear Stearns, asks: was that Sandy Weill talking about banks, or Sacha Baron Cohen?
Ross Sorkin: What did you think of Sandy Weill saying we should break up the Big Banks? Meredith Whitney: I thought you cooed over him.
Monday's mentions of Glass-Steagall in the national press reflect that the aftershocks of Sanford Weill's "conversion" continue to be felt within the financial community. Featured on the NASDAQ website this morning is an editorial which reviews Weill's "Damascus Road" conversion, wherein Richard Bar...
Chuck Prince was totally new to the job. He didn’t know a C.D.O. from a grocery list
Even more surreal: former Bear CEO says it was Borat, impersonating Sandy Weill, for bank break up
Ace Greenberg: That wasn't Sandy Weill, it was Borat talking about breaking up banks
Ace Greenberg says it was Sacha Baron Cohen saying "break up the banks", not Sandy Weill -
When your share value lessens over $790M of course you are now saying too big has failed.
Yes! Ace Greenburg comes out of the shadows to bring Borat into the Sandy Weill story. God bless him.
Ace Greenberg says the world's been duped by The Borat Guy pretending to be Sandy Weill
What were Sandy Weill's real motives in coming out against Too-Big-To-Fail? More hilarity; new post at
Breaking Up The Banks? $C $GWF $WB: Sandy Weill, the big banker most associated with breaking down the governmen...
While the repeal of Glass-Steagall was certainly a part of making our system fragile to the point where it is at today, thinking that a simple solution like breaking up the banks will be the panacea that we seek is incredibly naïve.
.Why did Sandy Weill turn against Too Big To Fail banks (which he invented)? Worried about his pension?
August 6, 2012 The Weekly Standard suggests retaliating against unfair trade--GOOD! Posted by Staff The Weekly Standard: End crony capitalism. If some industries and research are to be subsidized, the recipients of subsidies should not be selected by the politicians and bureaucrats who brought us Solyndra. Let applicants for available funds bid for them by putting skin in the game—their own money—and whoever bids the most, is willing to take the biggest risk, gets government help. Inequality that results from hard work, superior skill, and invention of a better mousetrap has never offended Americans; inequality that results from Solyndra-style crony capitalism—you fill my campaign coffers and I will channel taxpayer money to your corporate treasury—does. Break up the Big Banks. If a bank is too big to fail, it is too big. If some wild-eyed trader wants to shoot for the card that is so high and wild he’ll never need to deal another, don’t let him put the financial system or depositors’ money ...
Add Sandy Weill to the list of industry grandees who want to dismantle financial behemoths. In an appearance on CNBC Wednesday, the former Citigroup chief executive declared that we should probably go and split up investment banking from bankinghave banks do something that s not going to risk the ta...
The remarkably ironic pronouncement from Sandy Weill that the U.S. should resurrect some form of the Glass-Steagall Act -- which he worked assiduously to tear asunder in the 1990s as he created Citigroup Inc. -- has touched off another a debate about how to control the worst instincts on Wall Street...
"They're erasing every piece of our cultural history, and it's not all for the children. It's for Sandy Weill...
Marry in haste, repent at leisure – so goes the wise aphorism. There can be few better examples of this than the merger of Citibank with Travelers Group in 1998 and the demolition of the wall that separated investment from commercial banking. Citi
'It transformed him from a God into the proud owner of $43 million lousy dollars.' Matt Taibbi, Rolling Stone
Citigroup's Ex-CEO Says Big Banks Should Break Up _ "Sandy Weill built Citigroup into a mega-bank. Now, he says mega-banks should be broken up. Weill, 79 and the former CEO of Citigroup, says investment banks should be split from consumer banks. That would mean breaking apart Citigroup as well as other Big Banks like JPMorgan Chase and Bank of America. Weill says the change is necessary if U.S. banks want to rebuild trust and remain on top of the world financial system. Joe Nocera, an op-ed columnist with The New York Times and a WNYC contributor, says this is a particularly stunning turn of events given that Weill pushed hard for the end of the Glass-Steagall Act. “The idea that you would break [Big Banks] up, which I have thought would be somewhat implausible, to hear it come from somebody like Sandy Weill makes you think, well maybe it really could happen and maybe it really would work,” Nicer said. He does note that it would be a difficult – but not impossible - process given the current interr ...
The founder of Citigroup now says deposits and trading in banking should again be separate. We do, too.
Matt Taibbi isn't letting CNBC host and New York Times columnist Andrew Ross Sorkin off the hook for letting Sandy Weill off the hook. Taibbi, the Rolling Stone writer famous for his scathing profile of Goldman Sachs slammed CNBC for the way its pundits treated former Citigroup chairman and CEO Weil...
Matt Taibbi smackdown of the new new Sandy Weill -
Bill Maher at Weill Hall (Sonoma) in October. Um Bill, you know who Sandy Weill is right?
This week in Occupy, the people of Anaheim continued their stand against a trigger-happy police force, Occupy activists got raided by the FBI, the NYPD was finally called out for its Occupy-related human rights abuses, and 13 years after he aggressively lobbied Congress to repeal Glass-Steagall, for...
Former Citigroup chief says taxpayers and depositors should not be put at risk.
Steve Rattner, head of Wall Street for Obama, a former Lazard and Lehman banker turned hedge fund honcho, former advisor to Timothy Geithner's Treasury Department named as Obama's "Car Czar" to lead the fight to defeat Lyndon LaRouche's Economic Recovery Act to save the U.S. manufacturing base, is m...
Sandy Weill was the ringleader attacking Glass-Steagall in 1999, with Paul Volcker, Alan Greenspan, and Larry Summers. -Helga Zepp-LaRouche
Matt Taibbi in prime form on former Citigroup CEO Sandy Weill's renouncing of the too-big-to-fail banks he created
How the Wall Street Journal can bring up the LIBOR scandal – both a textbook case of antitrust crime and more or less the ultimate example of insider trading, with banks trading against their own secret, non-disclosed manipulations of interest rates – is beyond mind-boggling. Apparently it reeks of ...
I've noticed that some prominent Republican economists have, over time, recanted their positions: remember David Stockman and more recently Sandy Weill who was responsible for destroying Glass-Steagall. Currently, Mitt can't keep track of what he believes. Here's a thought, why don't we skip the Republican (Tea Party) economic agenda all together and go directly to Democratic solutions which were/are the targets of Stockman, Weill, and Romney. It's more efficient and humane to skip over all the hardship Republican economics create.
Priceless. Matt Taibbi takes on Sandy Weill's admission that "too big to fail" didn't work.
Sandy Weill, the once-lionized dealmaker who turned banks into financial "supermarkets" has recanted. Here is a brief of his sordid life: "...After the financial collapse of 1929 led to the Great Depression, the Glass-Steagall Act was passed to protect people's deposits from another system-wide crash by prohibiting banks from also owning stock brokerages, insurance corporations, hedge funds and other shadowy, high-risk financial operations." Weill "...hired a hoard of lobbyists to demand that Washington legalize his illegal structure by simply repealing the pesky law he was blatantly violating. He even brought former President Gerald Ford and former Clinton Treasury Secretary Robert Rubin onto Citigroup?s board of directors to be bipartisan front men leading the charge to kill Glass-Steagall. Sure enough, in 1999, Congress dutifully went along with Weill's push for repeal, and Wall Street promptly rushed to amalgamate more Citigroups, thus creating the "too-big-to-fail" system that — only eight years l ...
Sandy Weill and others are being celebrated for now calling for breaking up megabanks. The many debacles on their watch seem to have cost them absolutely nothing in fashionable society.
For decades, America's Glass-Steagall Act ensured a clean division of commercial and investment banking. But its repeal paved the way for the global financial world. Today politicians should restore the dual banking system to help ensure that banks that are too big to fail do not exist in the future...
We're ccming for you after we get done with those *** commies and Islamic extremist!!!
Hallelujah and Holy Smokes! Wall Street has had a "come to Jesus" moment — the biggest sinner on the Street has repented! He is Sandy Weill, the once-lionized dealmaker who turned our banks into finan
Steve Rattner and Sandy Weill roll around in a pile of awesomeness
If any single person is responsible for Wall St banks becoming too big to fail, it's Sandy Weill.
About a dozen years ago, I was invited to Sandy
Chopping banking conglomerates into less systemically hazardous shops is a laudable goal. Why did it take so long for bankers to come around?
"Every intellectual effort sets us apart from the commonplace, and leads us by hidden and difficult paths to secluded spots where we find ourselves amid unaccustomed thoughts." Jose Ortega y Gasset
At the risk of seeming self-indulgent --which everyone knows we are anyway-- we are happy to announce that www.UnLearn.TV has experienced yet another record breaking viewership week. With over 88 thousand people watching last week's show, it has become evident that we are really on to something. To add to this, there are more affiliate carriers on our horizon. The truth is, that we're only just beginning. Among the Items we'll be discussing this week are: Nanny McBloomberg is at it again. In an effort to compensate for his unfortunate genetics, the diminutive NYC mayor is continuing his series of inane social contributions, this time suggesting that the police should go on strike until the gun control laws meet with his astigmatic approval. Perhaps he would be less insufferable if we just got him a box to stand on. Also! ... Much to the elation of badminton enthusiast worldwide, the 2012 Summer Olympics are underway in London. The opening ceremonies were riveting, as it only took several hours for oddly d ...
He once headed up Citigroup and worked to get laws in place to let banks, insurance companies and investment firms merge. Now he is changing his mind. It rem...
Jeff Immelt says nuclear power is a waste, and gas, wind, and solar are the way to go. Sandy Weill, who almost personally undid Glass-Steagall, says it's time to break up Big Banks and separate the utility functions from the crazy stuff. Is the American bourgeoisie turning sensible?
Reverberations are still being felt from Sandy Weill's comments last week about breaking up the Big Banks. (See: Sandy Weill, Welcome to 'Team Break Up the Big Banks': Neil Barofsky) This weekend was chock-full of op-eds and stories about Weill's change of heart and the wisdom of his recommendations...
so the other day Sandy Weill (ceo of citigroup) in an interview said he thinks we should seperate commercial banks from investment banks. though in 1998 himself and a few other rich and powerfull lobbied congress to repeal the depression era Glass-Steagle act and succeeded in 1999. Glass Steagle was the only thing giving us financial stability for 60+ years. less than 10 yrs after its repeal we are where we are today. So this guy realizes the mistake and calls for the reinstituition of the act to help stabilize our economy. Congress.decides nah we cant reinstate such legislature till unemployment goes below 6%.makes sense right?
Some years after his monster laid waste to the town, Dr. Frankenstein apparently has reconsidered the wisdom of his creation and has determined it wasn't such a good thing after all. That's one way to view the conversion of former Citigroup (ticker: C) chief executive Sandy Weill to the counter-reformation sweeping the financial industry calling for the reinstatement of the Glass-Steagall Act. The irony is rich, almost as rich as Weill himself. After all, it was he who swung the wrecking ball to the Depression-era measure that separated commercial banking from investment banking and insurance. Indeed, Glass-Steagall was still officially the law of the land when Weill engineered the merger of Citi and Travelers Group in April 1998 for what then was a record-setting $70 billion. The Citi-Travelers deal brought Salomon Smith Barney into fold, combining banking and brokerage in a way that would have had Messrs. Glass and Steagall spinning in their graves. That legal formality was taken care of the following y ...
In 1997, Sandy Weill saw nothing but promise with financial consolidation. Oh, how times change!
Sandy Weill is best known for building Citigroup into the "too big to fail" banking institution it was when the financial crisis began in 2007. In the late 1990s, he pushed to overturn the Glass-Steagall Act, which made it impossible for investment banking, commercial banking, and insurance services...
Sandy Weill, the former CEO of Citigroup, has done an about face many have called “stunning” — and says that the time has come for intervention in reining in the Big Banks before they engage in any further economy-destroying hijinks and shenanigans. Sandy Weill’s statements are somewhat transgressiv...
Mass. Rep. Barney Frank, Ranking Member of the House Financial Services Committee, gave a rage-filled interview to CNBC's Maria Bartiromo July 26, responding to her question on whether Sandy Weill were right, with a sputtering, lisping, spitting howl that "This is not a useful time to be talking abo...
Sandy Weill saying Big Banks should be broken up is like Bill Clinton telling you not to have sex or Keith Richards just saying
Sandy Weill Still Doesn't Have the Answer on.wsj.com/NzEQFf
Ben Bernanke heads the most powerful central bank in the world. Yet the Federal Reserve chairman says he was largely powerless to stop what some are calling the biggest financial fraud in history: the systematic manipulation of a key global interest rate.
In a surprising change of heart, the man who shattered the Glass-Steagall Act and practically invented too-big-to-fail banks called for strict new regu
t this seems to be doing, the WSJ notes, is drawing a much thicker line between investment banking and consumer banking. Which is the sort of thing you would do if you were getting ready to split the bank into two things -- a JPMorgan investment bank and a Chase consumer bank. Some see this move as knitting the bank even more tightly together, partly because it crams all corporate banking together in one place. But I think the WSJ has the right idea on this one: If JPMorgan Chase ever does decide to split up, peeling off a consumer-y Chase from an investment-bank-y JPMorgan makes the most sense. It would in a sense be turning the clock back to the days of Glass-Steagall, when commercial and investment banking were split by law. That Depression-era law was repealed, thanks to the vigorous efforts of Sandy Weill, who built Citigroup into a sprawling behemoth, because synergies! But nobody believes in those synergies any more, including Sandy Weill, who earlier this week recanted his giant-bank religion, sho ...
You might want to look at the Sandy Weill call to break up the Big Banks as a call for a break up of Jamie Dimon's bank
s-132940039.html While certainly a good idea, rest assured that he has already figured a = way to personally gain a handsome profit for such a = thing ever come to pass. com... thing ever come to pass. LOL. No doubt about that! Might be a good first step to fixing a broken America.
Wall Street gurus have a way to throw a wrench into financial markets that move sideways and their comments get a lot of attention. Jack Welch, ex-CEO of GE, wa
Sandy Weill has a lot of convincing to do. The former Citigroup Inc CEO, who was in many ways the architect of the "too big to fail" giant bank system, dropped a bombshell on Wall Street on Wednesday ...
Same thing with John Reed! This isn't a Conservative/Liberal or Repbulican/Democrat issue. It is about a rational response to Corporations EXCEEDING their role in a society and unfortunately... just like a football game without rules or referees would quickly turn into a messy crime scene... and economy without government regulation is absurd! Sandy Weill and John Reed are NOT Socialists!!!... and THEY get it!!!
Jamie Dimon to Sandy Weill: Drop Dead Indeed, let the games begin.
[Breakingviews] Jamie Dimon to Sandy Weill: drop dead: A shake-up at JPMorgan leaves investment banking boss Jes...
.take on $JPM's reshuffle, Jamie Dimon to Sandy Weill: drop dead
Citigroup's Sandy Weill calls for a return to the same Glass-Steagall Act he helped repeal in 1999.
The former CEO of the banking giant Citigroup is drawing headlines for publicly calling for the breaking up of the nation’s largest banks and for restoring the separation of commercial and investment banking. Sandy Weill made the comments in an interview with CNBC. Sanford Weill: "What we should pr...
First, Sandy Weill says we need Glass-Steagall. Now Chris Dodd says we don't. What the *** is going on?!?
Citigroup's Sandy Weill, or as he liked to be called "the Shatterer of Glass-Steagall" has basically joined OWS. Wha?
Sandy Weill: Banks should be deposit taking institutions that make loans. What a concept!
25.07|"In Defining Hypocrisy, Weill, Who Led Repeal Of Glass Steagall, Now Says Big Banks Should Be Broken Up: Who is Sandy Weill? He is none other than a retired Citigroup Chairman, a former NY Fed Director, and a "philanthropist." He is also the man who lobbied for overturning of Glass Steagall in the last years of the 20th century, whose repeal permitted the merger of Travelers of Citibank, in the process creating Citigroup, the largest of the TBTF banks eventually bailed out by taxpayers. In his memoir Weill brags that he and Republican Senator Phil Gramm joked that it should have been called the Weill-Gramm-Leach-Bliley Act. Informally, some dubbed it “the Citigroup Authorization Act.” As The Nation explains, "Weill was instrumental in getting then-President Bill Clinton to sign off on the Republican-sponsored legislation that upended the sensible restraints on finance capital that had worked splendidly since the Great Depression." Of course, by overturning Glass Steagall the last hindrance to us ...
Weill, ex-Citigroup CEO, says Big Banks need to be broken up – via
"This is like Johnny Appleseed waking up one morning & saying 'Where'd all these motherfcking apple trees come from?'"
Sandy Weill, a cutthroat bedouin bankster and Jamie Dimon pal with a conscience? He must be terminally ill & trying to atone!
If these kinda guys are admitting this, geez aren't we a little late in acting on this? Should we wait for the next big collapse because of this inherent flaw in the law? No more gambling with depositors funds please, get your own casinos and leave the rest of us alone!
I'm intrigued by Sandy Weill's "rollback" on big banking: But would a GOP Congress buy it?
The RED Wrap: Sandy Weill’s small idea: I’m not exactly sure if small is in or big is out, but frankly, it doesn...
Forget Sandy Here's who else wants to break up the Big Banks: In Pictures
Sandy Weill, welcome to 'team break up the Big Banks': Neil Barofsky
It's not just Sandy Weill. Good American Banker roundup here of who else wants to break up Big Banks:
Dodd: Sandy Weill wrong, 'simplistic' to break up banks...
Sandy Weill, the man who created the mammoth financial combination of Citicorp and Travelers, has had a change of heart.
Phil Gramm, unlike Sandy Weill, is perfectly okay with being on the wrong side of financial history.
"This was like watching a unicorn walk down the street. Unbelievable." - on former Citi CEO Sandy Weill disavowing Big Banks
Sandy Weill’s Damascene conversion to a good cause
Sandy Weill, who practically invented the mega-bank when he ran Citigroup in the 1990s, said such banks should be...
Former Citigroup CEO Sandy Weill says Big Banks should be broken up
Sandy Weill calling for the breakup of Big Banks is like Santa Claus renouncing Christmas.
Listen, when they guy who basically CREATED Too Big To Fail comes out & says it was a mistake, we really need to listen
Sandy Weill, Welcome to ‘Team Break Up the Big Banks’: "I don't think we should be punishing [Weill] for recogni...
Sandy Weill, builder of TBTF Citi tells congress: "Reduce Leverage to 15x Assets, EVERYTHING Back on Books, Mark Assets to Market EVERY DAY.
In carefully-prepared remarks that immediately sent shock waves through the financial world and the halls of Congress, former Citigroup head Sanford Weill called Wednesday for the break-up of the biggest banks along the lines of the Glass-Steagall Act.
So, I guess I had this dream. I was watching CNBC… which, by the way, is how I knew it was a dream because I never watch CNBC… anyway, so I was watching CNBC and on comes Sanford “Sandy” Weill… you know… the ex-CEO of Citigroup… from back around maybe 1998 until 2003, or maybe a year or two later?
Video on msnbc.com: Discussing Sandy Weill's remarks on breaking up the banks, with Bethany McLean, Vanity Fair, and Jared Bernstein, Center on Budget & Policy Priorities.
Yesterday I was excited because someone from the banking industry NOT just consumer watchdog groups, had finally said breaking up the stranglehold the top banks have on all of us is necessary. Today, the industry spokeshole struck back; “SIFMA President and CEO Tim Ryan said in an interview on CNBC that the organization opposes a proposal by longtime banking executive Sandy Weill to break up the Big Banks into separate consumer banking and investment banking entities. "We think he's totally wrong," Ryan said. "We would vigorously oppose it because it doesn't make any sense and has been rejected as recently as the last three years." Blow me Tim. You’re a banking hack that could care a less about the America we grew up in. You’re very existence relies on saying and doing anything that the top banks tell you to do and say. Otherwise, you’re out of a job. When you speak I lose brain cells.
Fmr. U.S. Senator Chris Dodd on Squawk: Sandy Weill's idea of breaking up the banks is "too simplistic of an approach."
Runs 1 minute. Video from this morning as Geithner arrived to testify on Libor fraud. Had I...
Weill was architect of the Travelers Group and Citicorp merger that ushered in the era of "too big to fail."
Sandy Weill now says we should break up the banks again. That's amusing.
Sandy Weill, who invented “too big to fail” banks, finally fesses up. Will Obama or Romney follow?
Sandy Weill has finally seen the light. It's a bit late in the day, but, hey, he's already cashed in. You and I and millions of others in the United States and elsewhere around the world are still paying the price.
Citigroup’s former chief executive Sandy Weill has called for a break-up of large banks in a significant about-face from one of the architects of the modern financial conglomerate. Mr Weill’s intervention adds to a growing chorus of regulators,
Sandy Weill: Uhh they caught me cheating, now I want my old toys (Investment Banks and Banks separate) back.
Sandy Weill's Citigroup engaged in fraud on a massive scale, unfettered risk taking and then needed a massive taxpayer bailout during the 2008 financial crisis because it was so big it couldn't be managed. Yet only now does Weill say it was all a mistake.
Man who helped get Glass-Steagall overturned now says banks should just be banks
The god-father of too-big-to-fail banking renounces his life work. Big Banks are now bad!
Sandy Weill calls to break up the Big Banks; Dibs on Lloyd Blankfein!!
...this morning, Sloan and the rest of the "break up the banks" brigade got an unlikely ally in the form of former Citigroup chairman Sandy Weill.
July 25 (Bloomberg) -- Michael Mayo, an analyst at CLSA Ltd., talks about the outlook for Morgan Stanley's value if the New York-based investment bank breaks up, and the performance of Citigroup Inc. and the financial industry. He speaks with Betty Liu and Adam Johnson on Bloomberg Television's...
Proponents of breaking up the Big Banks found themselves a very unlikely ally today, Sandy Weill. He is the former CEO and Chairman of Citigroup.
Former Citigroup Chairman and CEO Sandy Weill on Wednesday called for the breakup of the nation’s biggest banks.
Sandy Weill, inventor of "too big to fail" banks, calls for Big Banks to be broken up. Robert Reich:
The former Citigroup chairman now thinks it was a mistake to scrap the separation of commercial and investment banking. As stunning as this admission was, he was only catching up to what markets already think.
Sandy Weill, former CEO of banking giant Citigroup and widely regarding as the creator of the "financial supermarket" model that dominates global capitalism, made waves today by saying that he believes the largest US banking conglomerates are unnecessary, harmful, and should be broken up.
Sandy Weill has far, far to go before he elevates himself to the Robert McNamara standard. Chuck Colson imitations won't work
One of the world’s biggest banks (Barclays) is on the hook for attempting to manipulate interbank borrowing rates. Another (HSBC) is accused of money laundering violations in Mexico alongside sanctions breaches and private-banking tax offences. A
Every independent economist and financial expert says that failing to break up the giant banks is ruining the American economy. Former Fed chairmen Greenspan and Volcker agree, as do presidents of various Federal Reserve banks and high-level Treasury officials, and the "central banks' central ban...
sandy weill- you are fing hypocrite. You need those alzheimer's meds.
Glass-steagall act has to be reinstated. At least more & more people understand this now. This is the way to save lives. RH Bill is the solution of stupid *** people.
Sandy Weill does an about-face, saying mega-banks need to be broken up to rebuild trust and keep U.S. on top of world financial system.
Sandy Weill, the former head of Citigroup, says the bank didn’t want his help to recover. The rejection stung.
Concentrated ownership wealth assets is the BIG ISSUE. Reform the Federal Reserve and implement Section 13 with the explicit intent to broaden private, individual future ownership of income-productive productive capital investment and economic growth. Own Or Be Owned!
Why do both Dems and Rep refuse to fix this problem that everyone knows is a big problem?
The idea of putting regulatory representatives on the boards of U.S. banks deemed too big to fail makes great sense to me.
The too-big-to-fail banks are bigger than ever. Anyone think that's a good thing?
If anyone needs the true definition of Irony see the story on former Citigroup Chairman Sandy Weill and his belief that Glass-Steagall should be reinstated. The guy almost single-handedly responsible for the banking crisis in this country (remember he defied the law and goaded Congress and Clinton into signing the Bill repealing Glass-Steagall in 1999) now saying it was a mistake. Gee Sandy, ya think? It took 45 Billion in tax-payer dollars to bail out Citigroup alone, the original??? too big to fail company, and roughly 6 years later he is just now figuring this out. Am I on crazy pills?
His face has creepy written all over it.
As someone who covered Sandy Weill closely, once upon a time, I had this reaction when I heard his comments today on CNBC: He might, just might, be trying to stick it to Jamie Dimon a little.
Weill was pivotal in lobbying for the succesful repeal of the Glass-Steagall Act in 1999, a 66-year-old law that had separated commercial banking from investment banking.
The big buzz today was former Citi head Sandy Weill saying that Big Banks may need to be broken up.
Sandy Weill, the famed financial dealmaker who created the nation's first mega-bank, makes a surprising reverse course.
4 stocks from a 5 Star fund manager on at 2p ET. Plus, Sandy Weill to CNBC: Breakup the banks and a ‘Netflop’ for $NFLX!
Sandy Weill apparently wants Jamie Dimon to be poor
.on why Sandy Weill's warnings about the Big Banks shouldn't be ignored:
Jamie Dimon and the whale= 4 Billion. Timmy Geithner and LIBOR= laughable. Sandy Weill wanting to break up Big Banks= Priceless!
I agree with Sandy Weill, break up the banks now. Let's take the Nancy Reagan approach to "To Big To Fail". JUST SAY NO!
"Going down to the Waldorf-Astoria for a press conference, with a gazillion flashbulbs flashing -- I felt like a rock star." Sandy Weill
Sandy Weill also fired Jamie Dimon.. That was a good move to... NOT!!!
Sandy Weill - poster boy of Wall St. and banking actually now supporting the Volcker Rule! What is the world coming to? we are doomed!
Citigroup founder Sandy Weill's flip-flop on Glass-Steagall is like "Genghis Khan embracing pacifism"
Sandy Weill now admits that investment banking and commercial banking ought to be split. Gee! Sounds like the return of Glass Steagall that served us well for seventy years. Weill and Bob Ruben, former Sec. Treasury under Clinton, had a lot to do with repeal of Glass Steagall and expansion of commercial/investment banking leverage. It's amazing how views change when there no longer is a VESTED INTEREST!Skenico sports a wry grin.
14years after firing him Sandy Weill still seems to hate Jamie Dimon $JPM
Sandy Weill and Jamie Dimon - who could guess that guys named SANDY and JAMIE could cause so much harm?
Break up Big Banks, says Sandy Weill, founding father of the big bank system. Epic Weill vs Jamie 'mini-Weill' Dimon deathmatch to follow.
So, now Sandy Weill is a born-again banker? I'm more likely to believe he wants to stick it to Jamie Dimon.
Sandy Weill on called for breaking up Big Banks. That it puts the shiv to Jamie Dimon one more time is, I'm sure, incidental.
How about we just put Sandy Weill and Jamie Dimon in a parking lot and let them settle their differences there?
It's very simple. Sandy Weill promoting the return of Glass Steagall is just another way to take a dig at his former protege Jamie Dimon.
Not satisfied with firing him at Citigroup, Sandy Weill wants to break up Jamie Dimon's current employer.
Alan Greenspan, Robert Rubin chance to fix damage. You wrecked facts are conclusive--Join US! Sandy Weill too
Financier and philanthropist Sandy Weill and his wife, Joan, on Wednesday announced a new educational partnership between Sonoma State University and New York's Carnegie Hall, scheduled to begin in June 2013.
Robert Scheer tore into Obama on Glass-Steagall in a column under the headlne: Obama Administration Part of the Hustle. Scheer cites Obama's praise for Jamie Dimon, when Obama said that "JPMorgan is one of the best-managed banks there is," and that Dimon "is one of the smartest bankers we got." [sic] Scheer notes that when Dimon was at Citibank, he was in cahoots w/ Sandy Weill in getting Congress to repeal Glass-Steagall, and adds: "The fact that Dimon first rose to banking prominence as he worked alongside Weill to reverse Glass-Steagall did nothing to tarnish his reputation in Obama's eyes."
The past couple of weeks, some might argue, have been the worst of Jamie Dimon’s professional career. Although being fired by Sandy Weill in 1998 was obviously a distressing time in Dimon’s life, a JPMorgan trader’s multi-billion dollar (and counting) loss appears to be even more painful for the CEO...
I just signed a petition to Ruben Armiñana, President, Sonoma State University and California State University Board of Trustees: Revoke the Honorary Degree being given to Sandy Weill, former CEO of Citigroup.
Sandy Weill, one of the chief architects of the financial crisis is being given an honorary degree simply because he is donating $12 million of his...
A chronology tracing the life of the Glass-Steagall Act, from its passage in 1933 to its death throes in the 1990s, and how Citigroup's Sandy Weill dealt the coup de grâce.
John Bond.Shame On Sonoma State U. Sandy Weill is the original mentor to Jamie Dimond of JP Morgan Chase. Giving him an honorary degree is like giving my dog an academy award for killing cats. Atleast the academy awards have animal handlers to assure other animals have not been hurt. It just goes to show, "liberal" E-D-U-C-A-T-O-R-S will take a buck from any animal, wolf, sheep or lamb, hurt or not. They are, after all, not responsible for anything.including WHERE their checks come from. Where their checks come from being primary to what they teach.
Glass-Steagall Repeal Caused Collapse, Former Citigroup Chairman Says April 21st, 2012 • 10:30 AM Richard Parsons, speaking two days after ending his 16-year tenure on the board of Citigroup Inc., where he had served as chairman since 2009, said at a Rockefeller Foundation forum Thursday that, "To some extent what we saw in the 2007, 2008 crash was the result of the throwing off of Glass-Steagall. Have we gotten our arms around it yet? I don't think so, because the financial-services sector moves so fast." The existence of Citigroup, created by the 1998 merger of Citicorp and Sandy Weill's Travelers Group (which owned Soloman Smith Barney), depended on the U.S. government overturning Glass- Steagall, which outlawed both insurance operations and investment banking by commercial banks. Alan Greenspan and his cohorts in Congress gladly complied. John S. Reed, the former Citicorp CEO, also said in 2009 that he regretted having worked to overturn Glass-Steagall, and called for "some kind of separation betwee ...
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