What idiots! How else would they be able to make the money they make?
Best Way to Rob a Bank Is to Own One – Bill K. Black
Forbes-
Just weeks after the man who built Citigroup into a too-big-to-fail bank called for its breakup, the current CEO, Vikram Pandit, is speaking up against such moves.
Citibank CEO Vikram Pandit
Pandit tells the FT that his bank today is a much different, more basic kind of bank than it was back under his predecessor Sandy Weill, and therefore doesn’t need to be broken up.
He tells the newspaper that the bank has sold many units since it first merged with Travelers in 1998 and shattered Glass-Stegall rules. From the FT:
© 2010-19 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.“What’s left here is essentially the old Citicorp,” he told the Financial Times. “That’s a tried and proven strategy. Why did it work? Because it was a strategy based upon operating the business and serving clients and not a strategy based on dealmaking. That’s the fundamental difference.”