When Sandy Weill thought financial supermarkets were a bad idea

By Justin Fox | April 3, 2009 | +

While looking for my very first magazine article online (because a fourth grader had asked me about it), I came across this remarkable utterance by Sandy Weill in a 1997 piece I wrote about the Morgan Stanley-Dean Witter merger:

“I think we found out in the 1980s that you really can’t be all things to all people,” says Weill, who also initiated the unsuccessful Shearson-American Express merger.

A year later, of course, Weill decided it would be really fun to learn that lesson again. Which is why we’re now all part-owners of Citigroup.

Related Topics: Wall Street & Markets

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