Deal Maker Now Doubts Megabanks

The New York Times, Thursday, July 26, 2012


Deal Maker Now Doubts Megabanks, by Michael J. de la Merced

I am sure you have read about Stanford I. Weill, the former chief executive of Citigroup, who “arguably (was) the most powerful banking voice behind the effort to dismantle Glass Steagall,”  and now has changed his mind.  Here are some quotes from the article:

“Sanford I. Weill on Wednesday called for separation of banks’ trading and deposit units.  In politics, it is called flip-flopping.  In banking it is called postcrisis regrets.” 

“For years, Sanford I Weill agressively pushed a ‘bigger is better’ philosophy in banking, turning Citigroup into a financial behemoth through a series of ever-larger deals.  Now the empire builder wants to break up the banks.”  

The article also calls Mr. Weill “a serial dealmaker.”  

A deal, a dealmaker, or making a deal can be a political, financial, of even a marital deal.  When the cards are dealt (verb) or a player deals they are distributed to the players rather than the play completed.  However, a deal in business implies that the business has been completed by the parties involved.  So this is rather a stretch idiomatically.  Plus deal in deal maker is an adjective.  

Definition: To give out as a share or portion; apportion. 2. To distribute among several recipients



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