— July 2012: Sandy Weill takes it all back, calling for investment banking to be separated from deposit taking—effectively reinstating Glass-Steagall he helped dismantle. His bad!
As Citi’s narrator says in the video, “Our reputation rests on the integrity and dedication of those that came before us.”
* List of updates: I originally said Weill bought Salomon Smith Barney in 1993. Smith Barney combined with Salomon in 1998. I added Mitchell’s tax evasion settlement in the 1933 item (h/t Mark Gimein). I added Sandy Weill’s astonishing support for breaking up the too big to fail banks.