Revenge of the has-beens: Reed, Komansky miss the mark

John Reed, David Komansky and Luqman Arnold have attacked the three now ailing banks they used to lead: Citigroup, Merrill Lynch and UBS. Their views are well-informed and interesting, but why are they only speaking up now that it is too late? And talk of break-ups is cheap: the credit crisis shows that firms of any shape and size can fail — and succeed.