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Dick Bove Criticizes Financial Media on Bloomberg Radio

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Dick Bove of Rochdale Securities is currently on Bloomberg Radio discussing the big US banks and banking regulations. In the interview, Bove has brought up the following issues:

-He sees a certain bias in media reporting banking industry. For example, the story about JP Morgan's (NYSE: JPM) hedges could have been done a lot better.

-Bove noted that the banks have an asset liability committee overseeing the operations and making sure that a bank has adequate capital. JP Morgan hedging trades were most likely ordered by its set liability committee. Hence, media should not make the assumption that there was a rogue trader at JPM.

- Bove also noted that the regulators don't necessarily understand savvy options trades and other financial instruments used by large banks.

Posted-In: Dick BoveAnalyst Color Analyst Ratings Media

 

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