Credit Agricole Securities’ Mike Mayo (I mention Mike in my book as one of the few useful analysts on the Street) discusses Sandy Weill’s call to break up banks. Here is a direct link.
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Weill finds religion: “break up the big banks”
Sandy Weill has been named one of the top 5 architects of the financial crisis. As head of Citi in the late 90’s, Weill cobbled together the first great financial supermarket, Citigroup. Along the way, Weill’s acquisitions (Smith Barney, Travelers, etc.) and persistent lobbying shattered Glass-Steagall, the law that limited the investing risks banks could take. Today he does an about face: time to break up the big banks and stop having taxpayers underwrite investment bank risks. Here is a direct link.
Roach: “more QE won’t help but the Fed will try it anyway”
Stephen Roach, a professor at Yale University and former non-executive chairman for Morgan Stanley in Asia, talks about his view that the Federal Reserve will choose to go another round of quantitative easing rather than implementing a twist. Here is a direct link.
