Former Citigroup CEO Sanford Weill says the big banks are too big and should be broken up. Weill was a pioneer in building the banks that have gotten 'too big to fail.' Wall Street is astonished.
Next week will be a huge test for the rally, climaxing with Friday's jobs report. The Federal Reserve holds an important meeting. Earnings are due from MasterCard, News Corp., Pfizer, Apache, Kraft Foods and American International Group.
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Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
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