Dick Bove says the passing of financial regulation is a huge positive for the banks. He lays out his bull case for the banking sector and why this bill is not critically bad for bank earnings. This could result in a near-term rally in the banks, but is ultimately bad for consumers as banks will simply sidestep the rules and pass along costs to consumers. Bove concludes that a recession is likely now and that the passing of this bill was nothing more than a sideshow and more political pandering. Unbelievable….We should just kick every incumbent out right now. Obama claims this was a big victory for his administration, but the truth is that he cratered to the bank lobbyists once again. Bove says this bill will not stop another crisis from occurring. What an embarrassment….
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.