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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 [1]
Wednesday, Oct 28th, 2009

The former chairman of Citigroup, John S. Reed, wrote a letter to the editor [2] 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 [3].

Former Chairman of Citigroup: Restore Glass Steagall  071009banner3 [4]


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URLs in this post:

[1] Washington’s Blog : http://www.washingtonsblog.com/2009/10/former-chairman-of-citigroup-restore.html

[2] letter to the editor: http://www.nytimes.com/2009/10/23/opinion/l23volcker.html?_r=2

[3] business as usual: http://www.house.gov/apps/list/press/financialsvcs_dem/presstitleone_102709.shtml

[4] Image: http://www.efoodsdirect.com/gmoPeople.html?aid=14&adid=12

[5] 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

[6] Reed Apologizes for Glass Steagall Repeal, Building Citigroup: http://www.prisonplanet.com/reed-apologizes-for-glass-steagall-repeal-building-citigroup.html

[7] Bring Back Glass-Steagall Curbs for Banks: Bogle: http://www.prisonplanet.com/bring-back-glass-steagall-curbs-for-banks-bogle.html

[8] FDIC Announces Citigroup to Buy Wachovia: http://www.prisonplanet.com/fdic-announces-citigroup-to-buy-wachovia.html

[9] The Problem With Google Glass: People Wearing Them Can Record You Without You Knowing: http://www.prisonplanet.com/the-problem-with-google-glass-people-wearing-them-can-record-you-without-you-knowing.html

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