Brad Meltzer is known for his political thrillers, but he also writes kids books about real-life people like Rosa Parks and Amelia Earhart.
New York Magazine’s Kevin Roose writes that Sanford Weill is the godfather of the “too-big-to-fail” movement. As Citigroup chief, now retired, Weill once described himself as the “shatterer of Glass-Steagall” — a regulation that prohibited commercial banks from doing risky investments in order to keep depositors’ money safe and was repealed in the 90s.
Weill and other big bankers pushed the repeal so that their banks could grow into the behemoths they are today. But Wednesday on CNBC, Weill announced he had had a change of heart and supports separating investment banks from commercial ones.
“What we should probably do is split up investment banking from banking, have banks be deposit takers… have banks do something that’s not going to risk tax payer dollars, that’s not going to be too big to fail,” Weill said on CNBC.
From controversial new textbooks to a Maverick family reunion, here are stories from Jeremy Hobson's week in Houston and San Antonio.