BANZAI7 NEWS-- In a melancholy NYT profile of Sandy Weill over the weekend, the former CEO and chair of Citigroup admitted to some errors of management during his tenure at the mega-bank, but spurned claims that the repeal of the Glass-Steagall Act -- which erased key banking regulations after heavy lobbying by Weill -- was to blame for Citi's woes.
In fact, as the NYT points out, Weill is still so staunchly in favor of the repeal that he displays a wooden trophy of sorts in his office. (In the banking equivalent of a stuffed lion's head mounted on the wall, the plaque reads "Shatterer Of Glass-Steagall.") And, appearances be damned, Weil apparently was not compelled to take this gloating piece of memorabilia down before being visited by a reporter.
Sandy Weill, Douche Bag for Life:
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