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
5. Libor Reality
It appears you treated it as almost a curiosity, or something akin to jaywalking, as opposed to highway robbery.
— Jeb Hensarling, Republican of Texas, as Congress grilled Secretary of the Treasury Timothy Geithner on LIBOR-rate rigging
Source: NY Times Dealbook: Facing Congress, Geithner Grilled on Rate-Rigging
