Citi's New Chief Economist Thinks Citi Is Too Big

willem buiter

On his blog, Willem Buiter ocne called Citi “a conglomeration of worst-practice from across the financial spectrum” back in April.

Now he’s been hired as the bank’s chief economist.

In his blog for the Financial Times, the economist Willem Buiter also said “too big to fail means too big,” and “there is no economic reason for large banks.”

As Felix Salmon points out, Buiter also likened Citi chairman Win Bischoff to Ayatollah Ali Khamenei.

“Maybe they just thought it would be better to have him inside the tent pissing out,” Felix writes.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.