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Thu Apr 19, 2012, 12:20 PM

 

For He’s a Jolly Good Scoundrel



Posted on Apr 18, 2012
By Robert Scheer

How evil is this? At a time when two-thirds of U.S. homeowners are drowning in mortgage debt and the American dream has crashed for tens of millions more, Sanford Weill, the banker most responsible for the nation’s economic collapse, has been elected to the American Academy of Arts & Sciences.

~snip~

Weill is the Wall Street hustler who led the successful lobbying to reverse the Glass-Steagall law, which long had been a barrier between investment and commercial banks. That 1999 reversal permitted the merger of Travelers and Citibank, thereby creating Citigroup as the largest of the “too big to fail” banks eventually bailed out by taxpayers. Weill was instrumental in getting then-President Bill Clinton to sign off on the Republican-sponsored legislation that upended the sensible restraints on finance capital that had worked splendidly since the Great Depression.

FULL ARTICLE HERE
http://www.truthdig.com/report/item/for_hes_a_jolly_good_swindler_20120418/


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