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There is some more stirring of the pot to bring our megabanks down to size. We're still a long way from anything happening along these lines, but it's encouraging to hear the call becoming louder, and from establishment people themselves.
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Last week, former Citigroup CEO Sandy Weill — the guy who created the megabank model — said he’d been wrong, that the big banks should be broken up. But what really unnerved the leaders of the nation’s Too Big To Fail institutions was that the markets reacted with a strong rally in bank stocks.
In other words, the most important constituency in the bank-size debate — the investor — thinks smaller is actually better.
-- Charles Gasparino at The New York Post
_ _ _
Last week, former Citigroup CEO Sandy Weill — the guy who created the megabank model — said he’d been wrong, that the big banks should be broken up. But what really unnerved the leaders of the nation’s Too Big To Fail institutions was that the markets reacted with a strong rally in bank stocks.
In other words, the most important constituency in the bank-size debate — the investor — thinks smaller is actually better.
-- Charles Gasparino at The New York Post
