The Old Dick Bové Would've Said, "To Hell With The Lawyers, Get A Pen And Paper, This Is Who's Going Down"
The old, sassy, speaks-her-mind-no-matter-who's-listening Dick Bové. The new Dick, having been sued by the brutes at BankAtlantic for casually asking over cocktails, "Who Is Next To Fail," and then proceeding to list firms in ascending order of financial health, doesn't take such risks. And for that we all die a little inside.
In a report on Tuesday, Richard X. Bove of Rochdale Research said that "the application of the stress test to these companies could conceivably drive at least 150 of them out of business quickly." He didn't name names, however, adding that "due to a lawsuit, I am unable to provide a more specific definition."
(Attempting to step into her shoes but in no way coming close to filling those stilettos was RBC which wrote in a note today that Huntington Banc would need about $1.8 billion, M&T Bank would need $1.6 billion, and a slew of other lenders, including Comerica and Synovus Financial, would need smaller amounts.)
What About All Those Other Banks? [Dealbook]
