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发帖数: 697 | 1 http://finance.yahoo.com/news/wall-street-legend-sandy-weill-13
Former Citigroup Chairman & CEO Sanford I. Weill, the man who invented the
financial supermarket, called for the breakup of big banks in an interview
on CNBC Wednesday.
"What we should probably do is go and split up investment banking from
banking, have banks be deposit takers, have banks make commercial loans and
real estate loans, have banks do something that's not going to risk the
taxpayer dollars, that's not too big to fail," Weill told CNBC's "Squawk Box
."
He added: "If they want to hedge what they're doing with their investments,
let them do it in a way that's going to be market-to-market so they're never
going to be hit."
He essentially called for the return of the Glass-Steagall Act, which
imposed banking reforms that split banks from other financial institutions
such as insurance companies.
"I'm suggesting that they be broken up so that the taxpayer will never be at
risk, the depositors won't be at risk, the leverage of the banks will be
something reasonable, and the investment banks can do trading, they're not
subject to a Volker rule (the Volcker rule explained), they can make some
mistakes, but they'll have everything that clears with each other every
single night so they can be marked-to-market," Weill said.
He said banks should be split off entirely from investment banks, and they
should operate with a leverage ratio of 12 times to 15 times of what they
have on their balance sheets. Banks should also be completely transparent,
Weill said, with everything on balance sheet. "There should be no such thing
as off balance sheet," he said.
If banks hedge in any way, Weill added, positions should be marked-to-market
(marked-to-market explained) and cleared through an exchange.
Weill said that by breaking up banks, they would be "much" more profitable.
"This is what all the regional banks do and everybody says buy regional
banks," he said. "They'll just be bigger regional banks."
Weill suggested that breaking up banks is the only way to rebuild the
financial industry's reputation in the wake of recent scandals and missteps.
"I want to see us be a leader, and what we're doing now is not going to make
us a leader," he said. |
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