Banker's About Face, Worst Housing Fix Yet, Bad News For Romney And More

Wednesday, July 25, 2012 Too Big To Fail Banker Concedes That Banks Are Too Big To Fail In a stunning reversal, a former big bank CEO who crusaded for policies that helped create the so-called "too-big-to-fail" banks now says we need to break up the banks. "What we should probably do is go and split up investment banking from banking, have banks be deposit takers, have banks make commercial loans and real estate loans, and have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail," former Citigroup Chairman and CEO Sanford "Sandy" Weill told CNBC on Wednesday morning. What!? GM Supports Politicians Who Voted Against Bailout Private-Equity Executive: Romney's Candidacy 'Lacks All Credibility' Libor-Based Bailouts Cost Taxpayers Huge Sum The Worst Housing Fix Yet Financial Security Deteriorating At Quickening Pace BLOG POSTS Robert Reich: The Man Who Invented 'Too Big to Fail' Banks Finally Recants. Will Obama or Romney Follow? Sandy Weill has finally seen the light. It's a bit late in the day, but, hey, he's already cashed in. You and I and millions of others in the United States and elsewhere around the world are still paying the price. Mike Lux: The Future of American Business Progressives should absolutely be pro-business, but the business interests we support and build coalitions with should be the kinds of businesses that build, not tear down, the middle class in this country. Deborah Nixon: Laid Off After 20 Years? Time to Reinvent Yourself Whether it's reinvention or re-assessing your skills, adaptation is a fact of life. If the changes in your field call for new skills, then go out there and learn them. All that is holding your back is your belief that it is too hard or you're too old. Jane White: What is the Future of U.S. Jobs? Could We Latte-Sipping Liberals Care Less? In the not-so-old days U.S. companies valued their workers over their shareholders and compensated them well. True Blue Democrats have got to switch their loyalties to the working class from the One Percent. Alex Charfen: An Unlikely Comeback Beginning in 2007 I experienced the most devastating time of my life in almost every way -- personal bankruptcy, financial ruin, embarrassment, and self-doubt. At the end of the worst of it, I found a new direction.

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