we will talk philanthropy next with cnbc first 25 member sandy weill. weill. . i humans.we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify, your rates won't go up due to your first accident. because making mistakes is only human, and so are we. we also offer new car replacement, so if you total your new car, we'll give you the money for a new one. call liberty mutual insurance at... and ask us all about our auto features, like guaranteed repairs, where if you get into an accident and use one of our certified repair shops, the repairs are guaranteed for life. so call... to talk with an insurance expert about everything that comes standard with our base auto policy. and if you switch, you could save up to $423. liberty mutual insurance -- responsibility. what's your policy? until. >>> checking the futures right now which i think will be meandering until -- >> it can certainly affect things too. >> it's no longer the fed will stay in. >> right. >> good is good. >> bad means are you on your own. >

they can totally make their own laws and that's been established with sandy weill and glass steagall and so forth but it's important to note that even under the bush administration before clinton came into power and the glass steagall act was fully repealed was that you had individuals from wall street inside of washington trying to dismantle those laws to begin with sandy weill kind of use what was going on inside of washington which was supporting the bankers idea that if you bring down all those last eagle walls banks in america are more powerful therefore america is more powerful in this was a really strong ideology that presidents on both sides of the aisle and bankers believed and so when came time to really push that law through it was after the bankers already invoked the dismantling of the law and went ahead of the law so that is definitely something that they are doing but it was not without the help and the support of what was going on inside washington from presidents reagan through bush through clinton and so on all right will we approach thanks so much for being once ag

asked this morning on "squawk box", sandy weill touched on the sensitivities involved. >> i would say maybe the u.s. attorney's office is saying these things to get a good resolution of the problem without it going to court. and without it having to do that, or doing the criminal part in a way that it doesn't really affect broad-based business. they're also talking about a foreign institution that doesn't do all the businesses in the united states. >> weill's comments record that they're working to mitigate the broader impact of potential indictments which got a bad name after essentially bess a deathblow to arthur anderson a dozen years ago. in the case of b in the meantime p, officials from the u.s. attorney's office in manhattan are coordinating with the new york fed and department of financial services to ensure a potential criminal charge is carefully handled. if bnp pled guilty, they would be more likely to freeze its abilities to clear transactions in dollars for a time which would be a tough blow for doing business in new york and in the u.s. in general, than to revoke its ban

in the case of gates, in the case of sandy weill, in the case of buffett. >> look at jobs coming back. all the different industries he touched directly. gates may be more long lived. >> the lives he's touched. >> everyone the idea of malaria potentially being eradicated. >> he came to philanthropy later in his career. ted turner inspired it. >> he's not even 60 yet. >> he started his career at 17. >> steve jobs never did any philanthropy. >> he gave the world a lot. >> ted turner goes back too far. he's crazy as a loon at this point. >> approximate what about robert johnson? >> i would put bob on for sure. >> top 50. certainly in the top 100. we didn't feel -- i think that his lasting impact was as great as some of the others. >> i love robert johnson. but how did he change the world? >> i'm going to go to sleep. i even argued martha should be on. i'll tell you why. i think q rating should have something to do with it. >> what's a q rating. >> in terms of everyone in the united states know who martha stewart is. they may not -- 20 of these guys they may never have heard of. >> great c

weill, either bought them, sold them or reshaped them on. >> sandy was a conscious mat deal maker.t of the office. >> he did have a vision of what financial supermarkets should look like. why that would be preferable to a stayed bank or insurance company. and he executed. >> the deal of this deal maker's lifetime, the 1998 $76 billion merger of weill's group and citigroup. >> in a basic way when you citi and travelers get together you did away with this law that in its essence prevented banks from underwriting corporate securities, although that was something they had been doing to a certain extent. it changed the landscape. >> he won a temporary waiver of the law. then in 1999 helped engineer its repeal. >> it forced everybody else to try to merge and get into the sort of larger than life business. >> maybe too large as it turned out. although weill left citi as ceo as chairman earlier, when the financial crisis hit in 2008, no bank was hit harder. its size became its vulnerablity. take pairs saved it. >> it was the poster child for too big to fail. when you have an implicit gover