Reply #1: Uh, no. Requiring banks to actually keep capital on hand is designed to PREVENT a crash. [View All]

[TheWraith]

And Dick Bove is a right-wing asshole and propagandist for banks. Some of his other statements:

Dick Bove: Banks Entering 'Golden Age' With 20% Profit Growth

http://www.cnbc.com/id/41060318/Banks_Entering_Golden_Age_With_20_Profit_Growth_Bove

Dick Bove: Governments Are Killing Us All

http://blogs.wsj.com/deals/2011/09/02/dick-bove-governments-are-killing-us-all/?mod=google_news_blog

Dick Bove: Obama's Mortgage Refinancing Bailout Is Doomed To Fail

http://www.businessinsider.com/dick-bove-obamas-mortgage-refinancing-bailout-is-doomed-to-fail-2011-9

Bove Says Shares of U.S. Banks May Quadruple by 2012

http://www.businessweek.com/news/2010-03-24/dick-bove-says-bank-stocks-may-quadruple-by-2012-update1-.html

"“The United States financial system and its economy are at a critical juncture. Actions being suggested in Washington have placed it on a precipice. If the President and Congress continue down the path that each has indicated, in my judgment, the equity markets will crash. Moreover, the financial system will have to be rebuilt on a new base. Shareholders simply refuse to accept what is happening in Washington at the present time.”

Bove attributes the recent equity market volatility to two alarming political trends:
Venezuelan style Democracy, i.e., socialist trends in government."

http://seekingalpha.com/article/184389-dick-bove-on-the-verge-of-a-politically-driven-equity-crash