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Dick Bové Is Pretty Sure The Federal Reserve Is Run By A Bunch Of Whack Jobs

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Here are a bunch of things the Rochdale analyst had to say about the central bank and its policies in a recent note.

* The quantitative easing program was a “miserable failure"

* “I unfortunately believe these people may have lost their minds just as the US Congress did when it passed the Dodd/Frank Act"

* “However, the proposal may be taken seriously by investors. If so it spells dangers for bank stocks. This is because it is likely that some form of this inane proposal may actually be put into place.”

Fed Easing 'Miserable Failure' That Risks Depression [CNBC]


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.