Wilmarth, Arthur E - In: Journal of Banking Regulation 15 (2014) 3-4, pp. 235-265
-flung operations. Thus, Citigroup was not only too big to fail but also too large and too complex to manage or regulate effectively … recent years that Citigroup’s universal banking model failed, and they called on Congress to reinstate the Glass-Steagall Act …’s separation between commercial and investment banks. As Reed and Weill acknowledged, the universal banking model is deeply flawed …