Is this the first quote from veteran banking analyst Richard Bove at his new gig?
Rochdale Research’s Richard Bove said if the banking industry was nationalized for only 15 minutes, it would be enough time to wipe out the total investment of shareholders in the industry.
“Nationalization would not only cause millions of Americans to lose trillions of dollars, it would impose a system on the U.S. economy that would destroy its ability to recover for decades,” Bove said.
The analyst left Ladenburg Thalmann for Rochdale Securities last week. The move was reportedly prompted by a dispute with the firm over a lawsuit — Bove was sued in the summer by BankAtlantic Bancorp for defamation, after the analyst published a note titled “Who’s Next?”
Related links:
Richard Bove ♥ banks – FT Alphaville
Richard: “I’ve got a problem” Bove – FT Alphaville
The Bove note on Lehman, in full – FT Alphaville
Analyst Richard Bove on the move – The Street