Updated with additional comments from Sandy Weill and comments on the complexity of large bank holding companies from the Federal Reserve Bank of New York.
In an interview on CNBC, Weill -- who led the 1998 merger of Travelers Group and Citicorp to form Citigroup -- said that the financial crisis "was created by too much concentration in investments in the banking system, way too much leverage,
"What we should probably do," Weill said, "is go and split up investment banking from banking, have banks be deposit takers, have banks make commercial loans and real estate loans, have banks do something that's not going to risk the taxpayer dollars, that's not going to be too big to fail,
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