Former Treasury Secretary advocates axing $100 bill

The hundred dollar bill could become a thing of the past.

A former Treasury Secretary of the United States thinks so. Larry Summers says the $100 bill should be scrapped to make life more difficult for tax cheats and other criminals.

He cites a study from the Harvard Business School.

The study argues eliminating larger denomination bills would have little downside for commerce, but would make life far more difficult for people who are breaking the law.