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</font><div><div><font size="4" face="Times New Roman"><b> former CEO of Citigroup just admitted to a huge mistake.</b></font></div><div><font size="4" face="Times New Roman"><b>
</b></font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">In an op-ed published in the Financial Times, John Reed says large banks like the one he used to run are now "inherently unstable and unworkable."</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">The man who was one of the chief architects of the "Big Bank" model now says the United States never should have repealed the Glass-Steagall banking act in 1999.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">That's exactly what Democratic presidential hopefuls Bernie Sanders and Martin O'Malley have been arguing on the campaign trail. They want the law reinstated. Hillary Clinton and the Republican candidates do not.</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">As CEO of Citi (C)from 1984 to 2000, Reed was one of the main lobbyists advocating Congress and President Bill Clinton to get rid of the Glass-Steagall Act. It had been in place since the Great Depression, and it prohibited banks from doing both investment banking (Wall Street activities like selling stocks and bonds) and retail banking (checking and savings accounts targeted at Main Street).</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">But Reed wanted Citi to merge with Travelers Group, an insurance company. For that, he needed the law repealed.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">"We were wrong about some things, and others we failed to anticipate," Reed wrote Thursday, the 16th anniversary of the end of Glass-Steagall.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">Related: What the heck is the controversial Glass-Steagall Act?</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">He spells out the two biggest flaws:</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">1. Big banks aren't more efficient.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">His exact wording is: "One was the belief that combining all types of finance into one institution would drive costs down — and the larger the institution the more efficient it would be. We now know that there are very few cost efficiencies that come from the merger of functions — indeed, there may be none at all."</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">2. Big banks have bad cultures.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">"The second thing we were wrong about has to do with culture — and this turns out to be very serious. Mixing incompatible cultures is a problem all by itself. It makes the entire finance industry more<b> fragile</b>," he wrote.</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">Related: The No. 1 'too big to fail' bank is...</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">Dimon is not afraid of Bernie [vid]</font></div><div>
</div><div><font size="4" face="Times New Roman">Reed's U-turn on Glass-Steagall comes after another <b>former Citigroup CEO and chairman Sandy Weill did the same in 2012.</b></font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">Weill suggested that big banks be broken up "so that the taxpayer will never be at risk," in an interview with CNBC.</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">But many -- including Bill and Hillary Clinton -- are pushing back against the notion that the repeal of Glass-Steagall caused the crisis or made the financial system worse.</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">JPMorgan Chase (JPM)is now America's largest bank. CEO Jamie Dimon points to all the services the bank provides to businesses and countries around the world.</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">
</font></div><div><font size="4" face="Times New Roman" style="background-color: rgb(255, 255, 102);">"You need [big banks]," Dimon told CNNMoney's Cristina Alesci. "If you break them up, someone else is going to do it and they will be Chinese. If you think that's going to be good for the future of America, I beg to differ."</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman">CNNMoney (New York)</font></div><div><font size="4" face="Times New Roman">
</font></div><div><font size="4" face="Times New Roman"></font></div><div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="41" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQgpKAAwAA"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://business.time.com/2008/12/02/are-citigroups-troubles-evidence-that-glass-steagall-repeal-was-a-colossal-mistake/" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Are Citigroup's troubles evidence that Glass-Steagall repeal was a ...</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">business.time.com/.../are-citigroups-troubles-evidence-that-glass-steagall-repeal-was-a...</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b0" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IKzAA" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8ILDAA" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="http://webcache.googleusercontent.com/search?q=cache:WqQIKeF9Tr4J:business.time.com/2008/12/02/are-citigroups-troubles-evidence-that-glass-steagall-repeal-was-a-colossal-mistake/+&cd=1&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><a class="fl" href="https://www.google.com/search?q=related:business.time.com/2008/12/02/are-citigroups-troubles-evidence-that-glass-steagall-repeal-was-a-colossal-mistake/+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwguMAA" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Dec 2, 2008 - </span>I'm not sure that in itself is evidence of <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> repeal's disastrousness: Travelers Group was already so big and so interconnected that it might have merited a similar deal all on its own. But it <span style="font-weight: bold;">does</span> seem that managing <span style="font-weight: bold;">Citigroup's</span> diverse businesses posed a challenge that Weill's successors weren't ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="48" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQgwKAEwAQ"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://money.cnn.com/2015/11/12/investing/citigroup-john-reed-glass-steagall/index.html" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Former Citigroup CEO says it was mistake to repeal Glass-Steagall ...</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">money.cnn.com/2015/11/12/investing/citigroup-john-reed-glass-steagall/index.html</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b1" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IMjAB" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IMzAB" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="http://webcache.googleusercontent.com/search?q=cache:k9SGESm6WccJ:money.cnn.com/2015/11/12/investing/citigroup-john-reed-glass-steagall/index.html+&cd=2&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><a class="fl" href="https://www.google.com/search?q=related:money.cnn.com/2015/11/12/investing/citigroup-john-reed-glass-steagall/index.html+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwg1MAE" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Nov 12, 2015 - </span>Reed's U-turn on <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> comes after another former <span style="font-weight: bold;">Citigroup</span> CEO and chairman Sandy Weill did the same in 2012. Weill suggested that big banks be broken up "so that the taxpayer <span style="font-weight: bold;">will</span>never be at risk," in an interview with CNBC. But many -- including Bill and Hillary Clinton -- are pushing back ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="55" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQg3KAIwAg"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://www.nytimes.com/2008/04/03/business/03citi.html" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">A Stormy Decade for Citi Since Travelers Merger - The New York Times</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">www.nytimes.com/2008/04/03/business/03citi.html</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b2" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IOTAC" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IOjAC" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="https://www.google.com/search?q=related:www.nytimes.com/2008/04/03/business/03citi.html+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwg7MAI" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Apr 3, 2008 - </span>Whatever happens at <span style="font-weight: bold;">Citigroup</span>, the aftershocks of the 1998 Citicorp-Travelers merger are still reverberating through the financial system. The deal paved the way for the repeal of the <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> Act of 1933, the law that separated investment banks, which underwrite securities, and commercial banks, ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="61" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQg9KAMwAw"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://www.nytimes.com/2004/05/16/business/when-citigroup-met-worldcom.html" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">When Citigroup Met WorldCom - The New York Times</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">www.nytimes.com/2004/05/16/business/when-citigroup-met-worldcom.html</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b3" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IPzAD" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IQDAD" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="https://www.google.com/search?q=related:www.nytimes.com/2004/05/16/business/when-citigroup-met-worldcom.html+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwhBMAM" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">May 16, 2004 - </span>A year later, Congress struck down <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span>, the Depression-era law that separated plain-vanilla lending from speculative investment banking. Mr. Weill had lobbied heavily for the repeal, which was hastened by the <span style="font-weight: bold;">Citigroup</span> merger. In short order, Mr. Weill went on to recast <span style="font-weight: bold;">Citigroup</span> in his own ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="67" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhDKAQwBA"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Mr. Weill Goes To Washington - The Long Demise Of Glass-Steagall ...</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">https://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/weill/demise.html</cite></font><div class="action-menu ab_ctl" style="display: inline; 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display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">May 8, 2003 - </span>A chronology tracing the life of the <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> Act, from its passage in 1933 to its death throes in the 1990s, and how <span style="font-weight: bold;">Citigroup's</span> Sandy Weill dealt the ... of the <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> Act, which bars commercial banks from being "engaged principally" in securities business, deciding that banks <span style="font-weight: bold;">can</span>have up to 5 ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="73" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhJKAUwBQ"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><span class="ogd b w xsm" style="font-weight: bold; cursor: auto; margin: 0px 3px 0px 0px; float: left;"><font size="4" face="Times New Roman">[PDF]</font></span><a href="http://sfmagazine.com/wp-content/uploads/sfarchive/2009/02/ETHICS-Did-Repeal-of-Glass-Steagall-for-Citigroup-Exacerbate-the-Crisis.pdf" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Did Repeal of Glass-Steagall for Citigroup ... - Strategic Finance</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">sfmagazine.com/.../ETHICS-Did-Repeal-of-Glass-Steagall-for-Citigroup-Exacerbate-t...</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b5" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0ISzAF" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8ITDAF" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="http://webcache.googleusercontent.com/search?q=cache:FDh2VMxCi4AJ:sfmagazine.com/wp-content/uploads/sfarchive/2009/02/ETHICS-Did-Repeal-of-Glass-Steagall-for-Citigroup-Exacerbate-the-Crisis.pdf+&cd=6&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman">for <span style="font-weight: bold;">Citigroup</span> Exacerbate the Crisis? Freed from the restrictions of the. <span style="font-weight: bold;">Glass</span>-<wbr /><span style="font-weight: bold;">Steagall</span> Act, giant bank- holding companies appear to have been focused more on meeting the expectations of Wall. Street analysts than on protect- ing depositors' funds from risk. February 2009 I STRATEGIC FINANCE. 13. It<span style="font-weight: bold;">will</span> take a major.</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="78" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhOKAYwBg"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://www.politifact.com/truth-o-meter/statements/2015/aug/19/bill-clinton/bill-clinton-glass-steagall-had-nothing-do-financi/" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Bill Clinton: Glass-Steagall repeal had nothing to do with financial ...</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">www.politifact.com/truth-o.../bill-clinton-glass-steagall-had-nothing-do-financi/</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b6" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IUDAG" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IUTAG" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="http://webcache.googleusercontent.com/search?q=cache:qDS6Ozh1vGYJ:www.politifact.com/truth-o-meter/statements/2015/aug/19/bill-clinton/bill-clinton-glass-steagall-had-nothing-do-financi/+&cd=7&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><a class="fl" href="https://www.google.com/search?q=related:www.politifact.com/truth-o-meter/statements/2015/aug/19/bill-clinton/bill-clinton-glass-steagall-had-nothing-do-financi/+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwhTMAY" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Aug 19, 2015 - </span>The extent over <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall's</span> effect on the financial crisis is a topic on which reasonable people <span style="font-weight: bold;">can</span> disagree. More so ... "<span style="font-weight: bold;">Citigroup</span> and others wanted and got the repeal of <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> in order to validate what they had already been allowed to do," said Simon Johnson, an economics professor at the ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="85" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhVKAcwBw"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="http://www.barrons.com/articles/no-a-new-glass-steagall-is-not-good-news-for-citigroup-jpmorgan-bank-of-america-1470067968" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">No, a New Glass-Steagall Is Not Good News For Citigroup, JPMorgan ...</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">www.barrons.com/.../no-a-new-glass-steagall-is-not-good-news-for-citigroup-jpmorg...</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b7" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IVzAH" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IWDAH" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="https://www.google.com/search?q=related:www.barrons.com/articles/no-a-new-glass-steagall-is-not-good-news-for-citigroup-jpmorgan-bank-of-america-1470067968+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwhZMAc" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Aug 1, 2016 - </span>For a while now KBW's Frederick Cannon and Allyson Boyd have been urging big banks like<span style="font-weight: bold;">Citigroup</span> (C), Bank of America (BAC) and JPMorgan Chase (JPM) to break up. A new <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span>, something backed by both Democrats and Republicans, would not be the ideal way to accomplish that, ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 26px; background-color: rgb(255, 255, 255);"><div data-hveid="91" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhbKAgwCA"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="https://en.wikipedia.org/wiki/Citigroup" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">Citigroup - Wikipedia</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">https://en.wikipedia.org/wiki/Citigroup</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b8" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IXTAI" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IXjAI" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="https://webcache.googleusercontent.com/search?q=cache:xoj1RRfS8CoJ:https://en.wikipedia.org/wiki/Citigroup+&cd=9&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><a class="fl" href="https://www.google.com/search?q=related:https://en.wikipedia.org/wiki/Citigroup+salomon+brothers+will+glass-steagall+citi&tbo=1&sa=X&ved=0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQHwhgMAg" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman">The remaining provisions of the <span style="font-weight: bold;">Glass</span>–<span style="font-weight: bold;">Steagall</span> Act—enacted following the Great Depression—forbade banks to merge with insurance underwriters, and meant <span style="font-weight: bold;">Citigroup</span> had between two and five years to divest any prohibited assets. However, Weill stated at the time of the merger that they believed "that over that time the ...</font></span></div></div></div></div><div class="g" style="line-height: 1.2; margin-top: 0px; margin-bottom: 28px; background-color: rgb(255, 255, 255);"><div data-hveid="97" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQFQhhKAkwCQ"><div class="rc" style="position: relative;"><h3 class="r" style="font-weight: normal; margin: 0px; padding: 0px; overflow: hidden; text-overflow: ellipsis; white-space: nowrap;"><a href="https://www.huffingtonpost.com/rj-eskow/yes-glass-steagall-matter_b_8579520.html" style="text-decoration-line: none;"><font size="4" face="Times New Roman" color="#000000">5 Reasons Why Glass-Steagall Matters | HuffPost</font></a></h3><div class="s" style="max-width: 48em; line-height: 18px;"><div class="f kv _SWb" style="height: 18px; line-height: 16px; white-space: nowrap;"><font size="4" face="Times New Roman"><cite class="Rm" style="font-style: normal;">https://www.huffingtonpost.com/rj-eskow/yes-glass-steagall-matter_b_8579520.html</cite></font><div class="action-menu ab_ctl" style="display: inline; position: relative; margin: 1px 3px 0px; user-select: none; vertical-align: middle;"><font size="4" face="Times New Roman"><a class="_Fmb ab_button" href="https://www.google.com/search?q=salonon+brothers+wil+glass-stegall+citi&oq=salonon+brothers+wil+glass-stegall+citi&aqs=chrome..69i57.12479j0j7&sourceid=chrome&ie=UTF-8#" id="am-b9" aria-label="Result details" aria-expanded="false" aria-haspopup="true" role="button" jsaction="m.tdd;keydown:m.hbke;keypress:m.mskpe" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQ7B0IYzAJ" style="border-radius: 0px; cursor: default; font-weight: bold; height: 12px; line-height: 27px; margin: 1px 0px 2px; min-width: 0px; padding: 0px; text-align: center; transition: none; user-select: none; background-image: none; border: 0px; box-shadow: 0px 0px 0px 0px; filter: none; width: 13px; text-decoration-line: none; display: inline-block;"><span class="mn-dwn-arw" style="border-color: rgb(0, 102, 33) transparent; border-style: solid; border-width: 5px 4px 0px; width: 0px; height: 0px; margin-left: 3px; top: 7.5px; margin-top: -4px; position: absolute; left: 0px;" /></a></font><div class="action-menu-panel ab_dropdown" role="menu" tabindex="-1" jsaction="keydown:m.hdke;mouseover:m.hdhne;mouseout:m.hdhue" data-ved="0ahUKEwiItKiGkqPYAhULSyYKHSiZA3gQqR8IZDAJ" style="background-image: initial; background-position: initial; background-size: initial; background-repeat: initial; background-attachment: initial; background-origin: initial; background-clip: initial; border: 1px solid rgba(0, 0, 0, 0.2); padding: 0px; position: absolute; right: auto; top: 12px; z-index: 3; transition: opacity 0.218s; box-shadow: rgba(0, 0, 0, 0.2) 0px 2px 4px; left: 0px; visibility: hidden;"><font size="4" face="Times New Roman" /><ol style="margin: 0px; padding: 0px; border: 0px;"><font size="4" face="Times New Roman" /><li class="action-menu-item ab_dropdownitem" role="menuitem" style="margin: 0px; padding: 0px; border: 0px; list-style: none; user-select: none; cursor: pointer;"><font size="4" face="Times New Roman"><a class="fl" href="https://webcache.googleusercontent.com/search?q=cache:zXyh9r98Ov0J:https://www.huffingtonpost.com/rj-eskow/yes-glass-steagall-matter_b_8579520.html+&cd=10&hl=en&ct=clnk&gl=us" style="text-decoration-line: none; display: block; padding: 7px 18px; outline: 0px;" /></font></li></ol></div></div></div><span class="st" style="line-height: 1.4; word-wrap: break-word;"><font size="4" face="Times New Roman"><span class="f" style="">Nov 16, 2015 - </span>We were told that repealing <span style="font-weight: bold;">Glass</span>-<span style="font-weight: bold;">Steagall</span> would lead to more efficiency and lower costs, but neither of these promises has come true. No less an expert than John Reed, former CEO of<span style="font-weight: bold;">Citigroup</span>, now says those claims were wrong. Reed wrote in a recent op-ed (behind a firewall) that “there are very few ...</font></span></div></div></div></div></div><div><font size="4" face="Times New Roman">==</font></div></div></div>