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Former Citigroup CEO Weill Says Banks Should Be Broken Up

Submitted by richybear on Wed, 07/25/2012 - 20:40

Economy

Appears the gig is up. Along with the great news about Audit the Fed today. Reality of the big banks are being revealed as well.

“There is finally a growing recognition among a wide range of market analysts, financial market participants and policy makers that the repeal of Glass-Steagall was a mistake,” said Thomas Hoenig, a Federal Deposit Insurance Corp. board member and former head of the Kansas City Federal Reserve. “It’s time now to restrict banks to core services.”

http://www.bloomberg.com/news/2012-07-25/former-citigroup-ch...