Compliance

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Greg MacSweeney
Greg MacSweeney
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Sallie Weeps Blood, Greg Smith Cashes In, Breaking Up the Banks and More

Sallie Krawcheck gave what is likely the most graphic description of big bank complexity, while Goldman Sachs prepares for ex-employee Greg Smith's supposedly tell-all book. Here what people are saying about these newsmakers, breaking up the big banks and the euro's continued troubles in this week's top quotes.
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3. Break-Up Day

To me the shareholder is getting cheated. The bank is trading at half of book. They should consider spinning off some of the businesses that you know would sell for 1.5, 2.5, 3 times book.

—Phil Purcell, the former CEO of Morgan Stanley, tells big banks to spin off some businesses.

Source: CNBC

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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