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Former Chairman of Citigroup: Restore Glass-Steagall
Posted By admin On October 28, 2009 @ 4:39 am In Money Watch | Comments Disabled
Washington’s Blog 
Wednesday, Oct 28th, 2009
The former chairman of Citigroup, John S. Reed, wrote a letter to the editor  of the New York Times calling for a reinstatement of Glass-Steagall:
As another older banker and one who has experienced both the pre- and post-Glass-Steagall world, I would agree with Paul A. Volcker (and also Mervyn King, governor of the Bank of England) that some kind of separation between institutions that deal primarily in the capital markets and those involved in more traditional deposit-taking and working-capital finance makes sense.
But for Barney Frank, Tim Geithner and the rest of the boys, it is business as usual .
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URL to article: http://www.prisonplanet.com/former-chairman-of-citigroup-restore-glass-steagall.html
URLs in this post:
 Washington’s Blog : http://www.washingtonsblog.com/2009/10/former-chairman-of-citigroup-restore.html
 letter to the editor: http://www.nytimes.com/2009/10/23/opinion/l23volcker.html?_r=2
 business as usual: http://www.house.gov/apps/list/press/financialsvcs_dem/presstitleone_102709.shtml
 Image: http://www.efoodsdirect.com/gmoPeople.html?aid=14&adid=12
 Wall Street bill sweeps away stray remnant of 1933 Glass-Steagall Act: http://www.prisonplanet.com/wall-street-bill-sweeps-away-stray-remnant-of-1933-glass-steagall-act.html
 Reed Apologizes for Glass Steagall Repeal, Building Citigroup: http://www.prisonplanet.com/reed-apologizes-for-glass-steagall-repeal-building-citigroup.html
 Bring Back Glass-Steagall Curbs for Banks: Bogle: http://www.prisonplanet.com/bring-back-glass-steagall-curbs-for-banks-bogle.html
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