I remember reading somewhere in the last few months that he regretted combining Travelers with Citi (I think it was Citi?) because it became too big to manage. I think it takes a strong man to admit his mistakes.

Lots of damage in the interim however....

Covering his ass. I'll be impressed if he calls for prosecution of fraud, but until then...

It's been fascinating listening to him.

An old man repenting of his sins and recognizing the damage he helped create perhaps?

Quote:

"2. A complete split between deposit-taking banks that make loans and investment banks that have no access to credit-money creation via revolving depository doors."

Great Idea!
Wait a minute...
Didn't we have that for like 65 years?

Sounds like he had that come to Jesus moment and confessed his sins. He must have had that moment as he was holding his grand kids and realized what a piece of **** country was going to be left for them to live in.

We will do the right thing only after we have exhausted every other possibility.

We have not nearly yet run out of other possibilities. A fascist surveillance-based police state is still entirely possible. Perhaps on the other side of that, however we get to that other side, will bring the rebirth of individual liberty, property rights (the same thing, really), and the genuine capitalism that thrives in that environment. Maybe then we could even have real economic growth, not faux inflation-induced and/or phony statistic-based "growth." Maybe then people could get actual jobs, not make-work government regulatory or security-state jobs.

Imagine!

Those fake and "speechless" reactions from those CNBC anchors are absolutely nauseating. How far do they have their heads jammed up their @sses...?

I was shocked as well to hear him say this as well this morning. He's well aware of the mess he created. Maybe he was visited by the banker ghost of the past and future. To say mark-to-market would destroy a bankster's day.

He's now positioned accordingly. Time to pull the rug out.

http://www.zerohedge.com/news/defining-h....

Quote:

" In his memoir Weill brags that he and Republican Senator Phil Gramm joked that it should have been called the Weill-Gramm-Leach-Bliley Act. Informally, some dubbed it “the Citigroup Authorization Act.” As The Nation explains, "Weill was instrumental in getting then-President Bill Clinton to sign off on the Republican-sponsored legislation that upended the sensible restraints on finance capital that had worked splendidly since the Great Depression.""

Unforgiven.

Quote:

Sounds like he had that come to Jesus moment and confessed his sins.

I'll believe it when he takes all of the money he pillaged through his schemes and gives it away. Until then, there isn't a sincere word coming out of his mouth.

Wow! Sandy said "Mark to Market". Am I dreaming?

Sounds like he might be on deaths door and trying to make amends for his sins.

Guys like that don't just find religion after fighting tooth and nail to destroy the world all in making a name for themselves.

There ain't no atheists in a Fox-Hole.

When the writing is on the wall, and it's obvious that a SHTF moment is approaching, it's going to be amazing how many of these scumbags will start this, IMHO.

That way, when the torches and pitchforks come out, they can point to their own "A-HA" moment, and proclaim that though it was perhaps belated, they are on "Our Side" now, and have been for a while.

Yep and none of it will be believed by those with the pitchforks captainkidd. Scoundrels throughout history have all tried it and they have all ended on the gallows/guillotine/firing squad shortly after. If the mob forms then anyone and everyone who had a hand in this will be rounded up and dealt with and no amount of excuse making will change what's coming their way. History shows that over and over again.

He didn't tell about his "Near Death Experience." He used it (the creation of the bank superstore) to his advantage and made his MegaBucks. Now he has no yield and tremendous risk. "Let's go back to the way it was before I screwed the pooch." About a one-in-a-million chance, but there is a chance.

Quote:

If the mob forms then anyone and everyone who had a hand in this will be rounded up and dealt with and no amount of excuse making will change what's coming their way. History shows that over and over again.

Thankfully, you are correct. But that don't stop the last second conversions. They will continue to proclaim their change of heart even as the noose tightens around their neck, because they want to continue breathing as badly as anyone else.

lol, the CNBS anchors are speechless. They keep making him say it again. "Are you really serious?" hahahahahahaha.

This must be a sign of the Apocalypse!

Agree with all the above. This sounds like a deathbed confession if I ever heard one.

But, just for a moment - try to imagine if, at that infamous March 2009 meeting at the White House, Obama had told the assembled TBTFers that he was pushing legislation through the Democratically-contolled Congress that would accomplish everything that Weill advocated on CNBS today. You know, instead of basically telling them he'd do everything they asked him (like abolishing mark-to-market, allowing them to continue leaving trillions of derivatives off their balance sheets and unregulated, and keeping DOJ investigators off their backs), just so long as they kept executive bonuses down for a year or two so the ignorant public wouldn't get*****ed off.

How do you suppose the past 3 1/2 years would have played out differently?

http://www.nytimes.com/2009/03/28/busine....

http://www.politico.com/news/stories/040....

He also kept saying, "People hate Bankers.! I mean Banksters." When is a politician going to grow a set of nuts. They can be either male or female as long as they grow them!

Fascinating.
Still very, very tough for me to see Weill without mentally sizing his neck up for a noose though.

Gosh, what was that LIE we heard about the TARP money all being paid back?

http://today.msnbc.msn.com/id/48313448/n....

Excerpt:

-----

Many TARP banks used federal loans to repay taxpayer debts

Of the 707 banks that received taxpayer money from the government's Troubled Asset Relief Program starting in 2008, also known as TARP, about half have repaid the Treasury.

However, 137 of those banks used a government-loan program to repay their taxpayer debts, according to the quarterly report to Congress of the Office of the Special Inspector General for TARP.

Of the 325 banks still propped up with taxpayer money, 203 have missed dividend or interest payments, with some missing as many as 13 payments since receiving capital injections at the height of the financial crisis, the report said."

-----

Then there's this new book by the IG for the TARP program, "Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street". His bio: "Neil M. Barofsky served as the special inspector general in charge of oversight of the Troubled Asset Relief Program and is currently a senior fellow at New York University’s School of Law."

Excerpt from the book, probably its forward:

http://www.bloomberg.com/news/2012-07-22....

Excerpt from that excerpt:

"Americans should lose faith in their government. They should deplore the captured politicians and regulators who distributed tax dollars to the banks without insisting that they be accountable. The American people should be revolted by a financial system that rewards failure and protects those who drove it to the point of collapse and will undoubtedly do so again.

Only with this appropriate and justified rage can we hope for the type of reform that will one day break our system free from the corrupting grasp of the megabanks."

-----

Finally, here's a fantastic 30 minute interview with David Stockman with great questions asked by the interviewer. It's an information dense interview where he clearly explains how this mess came about, how what is being done is exactly the opposite of what should be done, and what will happen as a result. He's 100% in a agreement with what Karl has said and with Kyle Bass, Prof. Steve Keen, and the few others who actually know what's going on but are, unfortunately, not in charge of policy. He really slams the Fed and clueless Keynesians (redundant) in general:

http://www.youtube.com/watch?v=jKprapaBX....

I hate the MSM ....oh so radical ideas...wtf?!