WASHINGTON —— The crowd that wants to break up the biggest banks in the wake of the financial crisis has a new member: a former big banker. Sanford "Sandy" Weill, who helped buildCitigroup Inc.into one of the nation's largest financial institutions, shocked many people when he said that investment banking should be separated from traditional banking. "I think what we should probably do is go and split up investment banking from banking," Weill said on CNBC's "Squawk Box" on Wednesday. "Have banks be deposit takers. Have banks make commercial loans and real estate loans. "And have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to...
0 Responses to Former Citigroup chief backs breakup of banking giants