Wall Street Legend Sandy Weill: Break Up the Big Banks - Yahoo! Finance
Former Citigroup Chairman & CEO Sanford I. Weill, the
man who invented the financial supermarket, called for the breakup of
big banks in an interview on CNBC Wednesday.
"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, have banks do something that's not going to
risk the taxpayer dollars, that's not too big to fail," Weill told
CNBC's "Squawk Box."
He added: "If they want to hedge what they're doing with their
investments, let them do it in a way that's going to be market-to-market
so they're never going to be hit."
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