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Dick Bove : Moody's Bank Downgrade 'Absurd'
Posted by: Dheeraj Grover (IP Logged)
Date: June 22, 2012 07:43AM
Richard Bove, Vice President of Equity Research, Financial Sector at Rochdale Securities says that fundamentals of the U.S. banking industry has improved "dramatically" over the past 4 years and that Moody's downgrade of the sector on Thursday is "absurd".
He thinks Banks are very well capitalized and much more safe. No matter what metric you look at for past 11 quarters Banks have improved and are in a far better position vs. 2008
Here is the video:
Stocks Discussed: BAC, C, MS,