Wednesday, November 20, 2002
Chris Suellentrop, Slate,
Chris Suellentrop, Slate,
Sandy Weill
How Citigroup's CEO rewrote the rules so he could live richly.
In 1933, two events occurred that would transform the world of finance. The first was known to be important at the time: In the wake of the 1929 stock-market crash, Congress passed the Glass-Steagall Act, which erected what became known as the "Chinese wall" between commercial banking and investment banking. The other event went unnoticed: In Brooklyn, Sandy Weill's mother gave birth to the future Citigroup CEO.
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Posted by Editor on 11/20/02 at 05:50 AM •
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