FORTUNE — It’s not often that people in my business get to feel prophetic, but this is one of them. Last week Sandy Weill, chief architect of that monstrous flop Citigroup (C), decided that he was wrong in 1998, when he got Congress to repeal the Glass-Steagall Act so that his Travelers conglomerate could combine with Citibank. That reminded me of the first column that I wrote for Newsweek, which I joined in 1995, arguing that repealing Glass-Steagall, which separated commercial banking from investment banking, was a terrible idea. Here’s the column. Too bad that Sandy didn’t agree with me back then, when it would have done some good.