"'More' is not the answer here. 'Better' is the answer here. 'Much less' is the answer here."
-- Sallie Krawcheck, former CFO of Citigroup (C), discussing the need for simplicity in financial disclosures in a video interview with CNNMoney anchor Poppy Harlow. Krawcheck gets personal here: Six weeks ago she refinanced her home and encountered "mind-boggling" paperwork, she says. The financial-services industry, she notes, "had high returns on complexity for years." Complexity bred profitability--and confusion for consumers and investors.
A champion for the individual investor since her early days as an analyst (who covered the financial-services industry), Krawcheck seems, in this video interview, tempted by the idea of a job in the Obama administration. If she went to Washington, she'd presumably take a key post in the area of regulation/investor protection. But she has three children in school in New York City, so a move would be a big deal.
Did you see WWE Raw Monday night? I did. First time ever. Why? (Good question!) Because Fortune was front and center. Big John Bradshaw Layfield, known as JBL to pro wrestling fans, was hawking our new issue for one reason: His wife, Meredith Whitney, is on the cover.
Whitney, in case you don't know, is Wall Street's force of nature. The Oppenheimer analyst has recently knocked billions off the stock-market capitalizations MOREPatricia Sellers - Aug 5, 2008 1:21 PM ET
I saw Brady Dougan last evening. He's the under-the-radar CEO of one of the financial world's quietest giants, Credit Suisse Group (CS). The company's cocktail reception, hosted by Dougan at New York's Chelsea Art Museum, was off the record, so I can't tell you what we talked about. But I can tell you that this young chief sure seems to have grown into the big job. I spent time with MOREPatricia Sellers - Jun 25, 2008 4:52 PM ET
Who will head Hearst following CEO Victor Ganzi's sudden departure? Read my colleague Richard Siklos' smart take on the drama there. I had lunch on Monday with one contender: Hearst Magazines President Cathie Black - and even then, she had no clue that her boss was going to quit. In fact, Cathie told me on Monday that she was heading to India for an IBM (IBM) board meeting this MOREPatricia Sellers - Jun 19, 2008 6:32 PM ET
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