No Surprise Here, Another Big Bank CEO Resists Calls For Bank Breakups

Categorized | STOP FORECLOSURE FRAUD

No Surprise Here, Another Big Bank CEO Resists Calls For Bank Breakups

No Surprise Here, Another Big Bank CEO Resists Calls For Bank Breakups

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:

“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.”

[FORBES]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8610 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com
Kenneth Eric Trent, www.ForeclosureDestroyer.com

Archives