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Monday, 22 September 2014

Bank breakups - a guide for the perplexed

Breaking Glass-Steagall

Sandy Weill created the Citigroup financial supermarket in 1998 by calling the bluff of U.S. lawmakers and ignoring the Glass-Steagall Act, which limited what banks could do. Washington soon repealed the law. Now, Weill says big banks should be broken up. What gives?



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