Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Showing posts with label Sandy Weill. Show all posts
Showing posts with label Sandy Weill. Show all posts

Wednesday, July 25, 2012

Sandy Weill, In Stunning Reversal, Tells CNBC It's Time To Break Up The Banks

In a stunning reversal, a former big bank CEO who crusaded for policies that helped create the so-called "too-big-to-fail" banks now says we need to break up the banks.

"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, and have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail," former Citigroup Chairman and CEO Sanford "Sandy" Weill told CNBC on Wednesday morning.

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