so that's nice. "Lawmakers were wrong to repeal the Depression-era Glass- Steagall Act in 1999, Reed said. At the time, he supported overturn of the law, which required the separation of institutions that engaged in traditional customer banking services from those involved in capital markets. “We learn from our mistakes,” said Reed, who wrote an Oct. 21 letter to the editor of the New York Times... [more]
so that's nice.
"Lawmakers were wrong to repeal the Depression-era Glass- Steagall Act in 1999, Reed said. At the time, he supported overturn of the law, which required the separation of institutions that engaged in traditional customer banking services from those involved in capital markets.
“We learn from our mistakes,” said Reed, who wrote an Oct. 21 letter to the editor of the New York Times endorsing a division of banking activities. “When you’re running a company you do what you think is right for the stockholders. Right now I’m looking at this as a citizen.”
Reed headed Citicorp for 14 years until the merger with Travelers. The deal created the world’s biggest financial company in a stock swap valued at about $85 billion. Reed and Weill were co-chairmen and co-chief executive officers until Reed’s retirement in 2000."
...
"CEO Vikram S. Pandit has eliminated about 100,000 jobs since late 2007, reducing the headcount by 26 percent as of Sept. 30."
http://www.bloomberg.com/apps/news?pid=20601087&sid=a.z4KpD77s80&pos=6[less]
Response by drdrd
over 16 years ago
Posts: 1905
Member since: Apr 2007
So I can pull my pants up now?
Ignored comment.
Unhide
Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
drdrd, wouldn't be in any rush.
Ignored comment.
Unhide
Response by ProperService
over 16 years ago
Posts: 207
Member since: Jun 2008
Sam Weill is the bigger fool and douchebag. He was the principle player in repealing and relaxing Depression Era protections. Remember back in 1999 - 2006, he was basically worshiped as a god and won accolades from just about everyone. CEO of the year, to invitations to expensive clubs, to more expensive and prestigious offerings.
Where is he now? Hope his health is bad and he has only a few years left.
Ignored comment.
Unhide
Response by aboutready
over 16 years ago
Posts: 16354
Member since: Oct 2007
indeed, as he hasn't apologized, at least to my knowledge.
Ignored comment.
Unhide
Response by ieb
over 16 years ago
Posts: 355
Member since: Apr 2009
I’ve spent some time with Mr. Reed, socially. He’s Teflon and not responsible for anything that’s happened since he left. Such a pity.
Ignored comment.
Unhide
Response by Riversider
over 16 years ago
Posts: 13572
Member since: Apr 2009
People make mistakes, they learn from them. Arthur Levitt regrets his actions with regards to CFTC and Brooksley Born. At least Reed is attempting to shape the debate in a postive way, at a critical time, when Politicians and Banking interests are pushing against reform.
Ignored comment.
Unhide
Response by ieb
over 16 years ago
Posts: 355
Member since: Apr 2009
Riversider: Yes, you're right. If I were John, I wouldn’t apologize. It’s easy to get carried away, mob mentality and all.
Ignored comment.
Unhide
Response by Ubottom
over 16 years ago
Posts: 740
Member since: Apr 2009
as usual i cant glean any distinct point from redbaiter's post
arthur leavitts' concession that brooksley born should have been heard, and that he was mistaken for not backing her up, speaks of his qualities--brooksley born was all over what was soon to happen--if anyone saw her on frontline, what was very impressive was her reluctance to speak negatively of her experience of those who quashed her and helped peretrate the asset bubble
So I can pull my pants up now?
drdrd, wouldn't be in any rush.
Sam Weill is the bigger fool and douchebag. He was the principle player in repealing and relaxing Depression Era protections. Remember back in 1999 - 2006, he was basically worshiped as a god and won accolades from just about everyone. CEO of the year, to invitations to expensive clubs, to more expensive and prestigious offerings.
Where is he now? Hope his health is bad and he has only a few years left.
indeed, as he hasn't apologized, at least to my knowledge.
I’ve spent some time with Mr. Reed, socially. He’s Teflon and not responsible for anything that’s happened since he left. Such a pity.
People make mistakes, they learn from them. Arthur Levitt regrets his actions with regards to CFTC and Brooksley Born. At least Reed is attempting to shape the debate in a postive way, at a critical time, when Politicians and Banking interests are pushing against reform.
Riversider: Yes, you're right. If I were John, I wouldn’t apologize. It’s easy to get carried away, mob mentality and all.
as usual i cant glean any distinct point from redbaiter's post
arthur leavitts' concession that brooksley born should have been heard, and that he was mistaken for not backing her up, speaks of his qualities--brooksley born was all over what was soon to happen--if anyone saw her on frontline, what was very impressive was her reluctance to speak negatively of her experience of those who quashed her and helped peretrate the asset bubble
that reed at least....is the usual drivel