Big Gov Central Planners get it wrong - over and over...... “I unfortunately believe these people may have lost their minds just as the US Congress did when it passed the Dodd/Frank Act,” he says. “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.”
Bove breaks down the cause of the crisis and Washington’s reaction as such: Too much money in the economy helped create the crisis at a time when the Fed should have been clamping down on banks.
Now, he says, the banks need to be given room to lend money and conduct business to reinvigorate the economy but instead are being handcuffed by onerous capital restrictions. http://www.cnbc.com/id/43313319
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