Star analyst Richard Bove thinks 150 to 200 more banks will fail within the next year. So much for things looking up.
Richard Bove, one of Wall Street's most influential analysts, foresees further trouble for banks on the horizon. In fact, he believes an additional 150 to 200 will fail within the next 12 months.
Bove, who is the vice president of equity research at Rochdale Securities, made the call in a report that examined the Federal Deposit Insurance Corporation's capacity to meet the continued challenges of the financial crisis. The bright side is that the nation's top 19 banks appear in a good position. (more)
No comments:
Post a Comment