Dick Bové Washes His Hands Of The Securities And Exchange Commission

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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]

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Dick Bové Reenters The Spotlight In Manner Befitting Dick Bové

When regular old bank analysts switch firms, people don't tend to make a big deal about it. Gardening leave is taken, contracts are signed, key cards are distributed, new business cards are printed. Sometimes you'll get an email address with updated contact information. That's usually it. Dick Bové, as you all know, however, is no regular bank analyst. Which is following his departure from Rochdale Securities, potential employers didn't interview him, he interviewed them, why his son/spokesman, Joe Bové sent out a press release announcing the final countdown to Bové Day, and why, when that blessed day arrived, it was celebrated with a three-course banquet and a little something called the Dick Bové Banking Manifesto.