Meredith Whitney: Don’t Rush to Split Up Big Banks

“Calls to split up big banks are growing, even from big-bank architect Sandy Weill, a former Citi chairman, but in reality, any such downsizing will take a long time and there’s no need for “draconian” measures to speed up the process, says star Wall Street analyst Meredith Whitney.

Earlier Wednesday, Weill said big banks need to be broken up due to the systemic risk their potential collapses would pose on taxpayers and depositors.

Splitting up big banks may happen, but over time, as the banks must find a way to keep the more profitable areas of their businesses, which in reality, aren’t all that big.”

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