Daily Archives: July 26, 2012

John Gapper

Sandy Weill’s belated conversion to the reinstatement of Glass-Steagall – the act that he helped to demolish – is a significant moment. It suggests that the pressure for greater and more effective structural reform of finance is becoming overwhelming.

Mr Weill was a major force behind the Gramm-Leach-Bliley Act that ended Glass-Steagall and allowed the merging of commercial and investment banking in the US. Now, he seems to think it would be better to have Glass-Steagall back. Read more

Nearly four years after the Wall Street bailout, the beneficiaries of the US government’s support are battered and unpopular, but still in business. Meanwhile, the regulators that rescued them are in trouble.