Sandy Weill’s Damascene conversion to a good cause
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
The Volcker rule and the Barclays Commission
The arrival of the Cameron-Clegg government in the UK promises a convergence between the US and Britain over structural banking reform.
Financial reform is currently passing through Congress, with a version of the “Volcker rule” separating out proprietary trading – however that is defined – from investment banking. Read more
| About this blog | Blog guide |
John Gapper is an associate editor and the chief business commentator of the FT.
He has worked for the FT since 1987, covering labour relations, banking and the media. He is co-author, with Nicholas Denton, of 'All That Glitters', an account of the collapse of Barings in 1995.
Andrew Hill is an associate editor and the management editor of the FT. He is a former City editor, financial editor, comment and analysis editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan.
Latest columns by John and Andrew