selfish relativism; Sandy Weill says it was the right move at the time

selfish relativism; Sandy Weill says: it was the right move at the time [for me that is]

fiction

edward w pritchard

In case you hadn't heard Sandy Weill, former super banker, has done a 180 and now wants to go on record as saying no bank should be to big to fail. He as you will remember was who championed the financial supermarket concept that ushered in the 2008 financial crisis in America caused in part by Banks being to big to fail.

Back then, in 1999  Mr. Weill insisted banks need to be less regulated and restricted. Mr Weill worked though the Clinton administration to repeal Glass Steagall, laws limiting the power and scope of the Banks to protect the Public. Glass Steagall then repealed Weill made millions, and the tax payers lost billions.

Now Weill is older, retired and thinking of posterity wants to absolve his reputation. No longer a selfish robber baron, he now is a philanthropist. So he comes forward to fix the world, now that he has no money on the table on the issue.

Sandy Weill never did apologize on CNBC when he dropped his bombshell [ the 180 reversal about super large banks.] He just said it was the right idea at the time [for me he likely thought]. Guys like that never apologize. They are relativistic and selfish. Whatever works for me is right.

Ironic or sad. Pathetic or just predictable. Plato vs the Stoics, history repeats itself. The Greek philosopher Plato championed the idea that there are absolute values in life, right and wrong.

 The Stoics back in ancient Greece said no, it's all relative. Learn to argue and debate properly the Stoics said and you will win every time. And if you must change sides on a issue? An issue such as; are banks to big to fail or do today's ultra large bank now need to be broken up and downsized.

Well Mr Weill, if you must do a 180, smile that charming little boy smile. But don't apologize, it was the right idea at the time.