Sandy Weill

Robert Rubin Joins Citigroup for $126 Million After Engineering Glass-Steagall Repeal

1999-10-26 00:00:00 +0000 UTC | Importance: 9/10

Robert Rubin joins Citigroup just four months after leaving his position as Treasury Secretary, shortly after the November 1999 passage of the Gramm-Leach-Bliley Act that repealed Glass-Steagall. Rubin’s move to Citigroup - the principal beneficiary of Glass-Steagall repeal - represents one of …

Robert Rubin Citigroup Sandy Weill Goldman Sachs Treasury Department revolving-door citigroup glass-steagall corruption regulatory-capture +2 more

Federal Reserve Grants Citigroup Temporary Waiver for Glass-Steagall Violation

1998-09-01 00:00:00 +0000 UTC | Importance: 8/10

In September 1998, the Federal Reserve Board granted Citicorp a temporary waiver allowing its merger with Travelers Group, effectively circumventing the Glass-Steagall Act and Bank Holding Company Act. This strategic regulatory maneuver created Citigroup, the first ‘universal bank’ since …

Federal Reserve Alan Greenspan Citicorp Travelers Group Sandy Weill +4 more federal-reserve citigroup glass-steagall-violation regulatory-waiver systemic-corruption +3 more