Dick Bové Looks Forward To Getting Back In The Ring With Sallie Krawcheck, Estimates Bank Of America Will Lay Off 30,000 Employees

Earlier this morning, Rochdale analyst Dick Bové stopped by CNBC to chat about what’s been a’ poppin’ at Bank of America. First off, that report a few weeks ago about how the bank will be relieving 10,000 employees of their duties? According to Bové, that’s just the start. “You’re likely to see 30,000 people fired at Bank of America in the next 24 months,” he told the Squawk Box gang. Why the need for so many cuts? “The bank has made a policy decision to shift emphasis from the consumer bank to the commercial bank, because the regulations are more onerous on the consumer side, that’s why.” And what of yesterday’s unceremonious Krawcheck canning? Dick is sorry for his gal-pal but sees the firing as an opportunity from which they both stand to benefit.

“I think Sallie Krawcheck is fabulous. She was never in line to be the head of Bank of America. She was never in line to be the head of Citigroup. She’s just an extraordinarily talented person who has been moving into positions that maybe don’t fit with her talents as much as they should…I think she should be back in this business, analyzing banks, which is what she knows how to do. She was a fabulous competitor. She was smart, bright, she was innovative and she knew how to do this job properly.”

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18 Responses to “Dick Bové Looks Forward To Getting Back In The Ring With Sallie Krawcheck, Estimates Bank Of America Will Lay Off 30,000 Employees”

  1. VonSloneker says:

    Pshh, why don't you and Sally get a room Dick. Geez.

  2. Needs more miniature giraffe.

    -Guy That Prefers Minimal Lighting, Red Ties, And Two Screens

  3. Sally's crotch-check says:

    like that roaming gnome has a snowball's chance in hell of even getting to whack off in her shadow

  4. slainwaxwing says:

    Upon hearing that Dick Bove thought Krawcheck was never a good fit as head of BAC, BAC's board of directors immediately begged her to return as CEO.

  5. Tank the Frank says:

    In other news Dick Bove is reported to be quite the manscape artist.

  6. guy 2 cubes over says:

    "She was smart, bright, she was innovative and she knew…"

    She was fired, not fired.

  7. Ron Jeremy says:

    I hear it's Nudes-a-Popping over at BA

  8. Rachel Uchitel says:

    Sally, if I may give you some advice as a peer. Dick is correct, a lot of times a significant loss like a job, a sugar-daddy, or fiance' can become a tremendous benefit in one's personal life. It should be viewed as an opportunity.

  9. nachocheese says:

    OK—-let's see……guess I was taken in again….thought all this BAC stuff might be GOOD for the stock, but, since Dick(stay thirsty my friends), likes the call and thought the stock a while ago would hit the 60s,….guess BAC is screwed…how do they actually give this guy a check?

  10. Anonymous says:

    Just pulled this job title off LinkedIn:
    Lead Strategist and Senior Enterprise Architect, CSBBTO Vice President Southeastern Region, Merrill Lynch Pierce Fenner & Smith a division of Bank of America Private Wealth Management.
    I don’t think lopping off fat is going to terribly difficult.

  11. Guest says:

    Sje left to monetize the golden parachute before the conpany ran out of money to pay it. Why is he trying to make it out as a job performance thing. Pure economics.

  12. Polly Perkins says:

    Can someone please provide a translation? I don't speak squirrel.

  13. Dick Bove says:

    I loves me a woman with a thick veiny neck. I'd hit those Krawcheecks all night long.

  14. Ken Lewis says:

    Dear Brian,

    If I was still CEO I would have fired your ass!


  15. Jax says:

    Dick is such a shmuck.. Doesn't know jack shit

  16. cle bundle says:

    They need to start releasing so of that cash back into the economy!