• 30 Jul 2010 at 1:00 PM

Dick Bové Washes His Hands Of The Securities And Exchange Commission

By Bess Levin

They want to act like children? Fine. That’s their prerogative. He’s done.

“If the goal of the SEC is every two or three weeks to come out and say that there’s another financial company that’s done something wrong,” the agency will drive home the belief “that the financial system in the United States is rotten, that it’s run by crooks who create fraudulent products,” said Dick Bove, analyst at Rochdale Securities. As investors wait for more regulatory shoes to drop, “the markets will continue to act in the volatile fashion that they are right now,” he said.

Citigroup to pay $75 mn to settle SEC charges [Business Standard]

Comments (23)

  1. 1
    Posted by CoveredLong | July 30, 2010 at 1:10 PM

    Interesting read.

    -Guy who’s surprised the SEC has regulatory shoes to drop after having already dropped their regulatory pants.

  2. 2
    Posted by Anonymous | July 30, 2010 at 1:13 PM

    What’s with all the masculine pronouns?

  3. 3
    Posted by Anonymous | July 30, 2010 at 1:17 PM

    True story: Dick Bove’s testicles have not descended yet.

  4. 4
    Posted by Anonymous | July 30, 2010 at 1:23 PM

    I wonder if her feelings have changeed re: Lloyd too.

  5. 5
    Posted by Anonymous | July 30, 2010 at 1:25 PM

    In Soviet Russia, Dick Boves you!!!!

  6. 6
    Posted by NakedShort | July 30, 2010 at 1:28 PM

    Ms. Bove gives the best brain.

    -K. Lewis

  7. 7
    Posted by Anonymous | July 30, 2010 at 1:32 PM

    I will be at Minetta with Bove tonight, dropping shoes eating risk and vol sandwiches and poppin bottles-Market Tool

  8. 8
    Posted by Anonymous | July 30, 2010 at 1:34 PM

    Bigger SEC = More porn = More costly bandwidth = More $$ = More Fines

    Bigger Federal Government = More $$ = More Taxes

    Whichever way you slice it, there’s a trend here.

  9. 9
    Posted by Anonymous | July 30, 2010 at 1:42 PM

    Clearly the financial system is not “run” by crooks any more than cockroaches “run” a house. It is just inhabited by millions of them. Unfortunately, these particular cockroaches have amassed a small fortune and are able to effectively pay-off the entirely different colony of cockroaches in the government. I think this is what Dick Bove probably meant, or would have said, if he had more time to prepare. It’s all about the preparation. And allegories.

  10. 10
    Posted by Someone who once met Soros | July 30, 2010 at 1:50 PM

    I eat pussy and bove dick.

    - Bisexual Banker [not really]

  11. 11
    Posted by Anonymous | July 30, 2010 at 1:53 PM

    Dick, don’t give me a doodad when I ask for a thingamajig.

    -Grandma Michaels

  12. 12
    Posted by Anonymous | July 30, 2010 at 1:54 PM

    I’m Short Dick Long Bove.

  13. 13
    Posted by Someone who once met Soros | July 30, 2010 at 2:05 PM

    DICK BOW

    - Guy who makes childish jokes by removing vowels from names of the people who appear on Dealbreaker and uses caps lock to to make the joke even more obvious and also writes too explanatory “Guy who XYZ” signatures.

  14. 14
    Posted by guest | July 30, 2010 at 2:07 PM

    Bovine logic at its best.

  15. 15
    Posted by Anonymous | July 30, 2010 at 2:09 PM

    I guess most of the witty commenters have left for the weekend. I’m looking at you 11, 12, 14

  16. 16
    Posted by HeadlessHorseman | July 30, 2010 at 2:10 PM

    Even better:

    …the agency will further expose the increasingly self-evident fact…

    Perhaps, if the country’s financial institutions could temporarily suspend business practices made possible only by flagrant conflicts of interest which they unconvincingly and unapologetically defend with double talk, dubious half-truths, and circular logic then SEC staffers could go back to literally jerking themselves off.

  17. 17
    Posted by Anonymous | July 30, 2010 at 2:12 PM

    Haha, his name is Dick!

    -SEC official passing time while Bang Bros. page loads

  18. 18
    Posted by Anonymous | July 30, 2010 at 2:15 PM

    @15 – That was not very witty. Meet me at a tavern.

  19. 19
    Posted by Denny Deckshoes | July 30, 2010 at 2:19 PM

    @17 FTW

  20. 20
    Posted by Anonymous | July 30, 2010 at 2:29 PM

    In Soviet Russia, Bove Dicks Levin!

    -Witty Dick’s Id

  21. 21
    Posted by Anonymous | July 30, 2010 at 2:36 PM

    Securities and Exchange Commission. Plural. Like more than one security.

  22. 22
    Posted by guest | July 30, 2010 at 3:10 PM

    @18 Fraunces? -15

  23. 23
    Posted by Anonymous | August 2, 2010 at 12:26 PM

    what? the industry isn’t corrupt? There goes my 20 bucks…

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