Who Is Sandy Weill?

”We just made the president of the United States an insider.“

--Sandy Weill

Weil Goes to Washington

Sandy Weill’s creation of Citigroup – the first so-called “superbank” – and his successful lobbying for repeal of the Glass-Steagall Act that stood in his way, was a demonstration of Weill’s and Wall Street’s political muscle.

But what has been the impact of Glass-Steagall’s demise and the merging of investment banks and commercial banks within a single financial behemoth? Did the emergence of full-service superbanks like Citigroup contribute to the abuses of the late-1990s bubble? ¹

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