The Big Boys rule.
"The biggest hypocrites in the world are the United States Congress because they set out this philosophy that too-big-to-fail is something they don't believe in and they want to stop it and then they write a bunch of laws that kill the small banks and help the big banks get bigger." Richard Bove, Rochdale Securities
And then there's this, "Bank of America is two companies. It's everything Countrywide [Financial] and everything that's not Countrywide. Everything that's Countrywide is rotten to the core. Everything that's not Countrywide is doing quite well."
Watch it here.
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I keep a list of interesting, bright people whenever I hear or read something good, and Bove has made the list many times.
ReplyDeleteYou're precisely right, Dodd-Frank stifles small institutions, while granting consolidated power to the largest.
It's easier for the Government to control that way..it's Saul Alinsky's Marxism, 101!
And, don't let the Media Matters "news" outlets intimidate you into thinking it's not (it's in his book), or tell them they can just call Central Government control over our freedoms whatever they want.
It occured to me long after I became a parent that the best way to hurt corporations is to avoid having children. Imagine if millions of Americans simply refused to reproduce.
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