Sandy Weill, the former Citigroup chief executive and shatterer of Glass-Steagall says the industry needs a return to the separation of commercial and investment banks, while a recent study on HFT reveals that the practice costs long-term investors $2.5 billion per year.
July 27, 2012
3. Image Makeover
Let's have a creative investment banking system like we have always had, so that the financial industry can once again attract the best and the brightest like they are doing in Silicon Valley.
— Sandy Weill, the former chief executive of Citigroup
Source: Wall Street & Technology: Weill Changes Mind, Calls for Big Banks to Break Up
