Maybe you watched Bloomberg TV’s interview with Mike Mayo yesterday, but even if you did, you may have missed a story he told REALLY quickly.
Betty Liu was getting the notoriously bearish Credit Agricole bank analysts opinion on former Citi CEO Sandy Weill’s announcement that he feels Wall Street banks should be broke up. Knowing that Weill helped create the ‘supermarket’ banking system we now live in, Mayo was not that impressed.
But that’s not the only reason why he was less wowed by Weill’s 180. From the interview (minute 6:40):
“When I was an analyst on a conference call in 2002 I was hitting star one to ask a question like all the rest of the analysts and for several conference calls over the course of a year they wouldn’t take my calls because I was critical on the bank, and that’s when Sandy Weill was CEO.”
Watch the full interview below:
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