Venezuelan type policies to lead to a market crash

Discussion in 'Wall St. News' started by zdreg, Feb 3, 2010.

Is obama creating venezuelan economic type policies?

  1. agree

    12 vote(s)
  2. disagree

    3 vote(s)
  3. don't know

    1 vote(s)
  4. comparing obama to chavez is disrespectful

    2 vote(s)
  1. zdreg


    Obama's "Venezuelan-style" Policies Will Cause Stock Market Crash, Dick Bove Says
    Posted Jan 28, 2010 07:30am EST by Peter Gorenstein in Investing, Banking, Election, Politics
    Related: spy, ^DJI, ^GSPC, dia, XLF, ^IXIC, ^RUT

    To paraphrase Miller Tabak equity strategist Peter Boockvar, a political science degree on Wall Street may be more important than a finance degree these days. Since the crisis created the need for unprecedented government intervention, stocks are influenced just as much by policy decisions as they are by fundamentals and valuations.

    Last week's announcement of the "Volcker Rule" and President Obama's digs at the "banker [who] puts the rest of us at risk for his own selfish gain" in the State of the Union address are just the latest examples.

    Be afraid, Be very afraid.

    Dick Bove, bank analyst at Rochdale Securities, believes the growing acrimony between Washington and Wall Street could have devastating consequences. "If the President and Congress continue down the path that each has indicated...the equity markets
    will crash," he warns. "Moreover, the financial system will have to be rebuilt on a new base."

    President's Obama's latest proposal to limit the size and trading activity at banks will cut off money supply, Bove frets, driving "the United States back into recession and...crash the market."

    That's not all…

    Obama is crafting an attitude towards banks and the rich that Venezuela President Hugo Chavez would recognize as his own, Bove tells Aaron in the accompanying clip,.
  2. Why the hell does anybody still put a mic in front of Dick Bove anymore. The guy is a tool.

    All that stuff BO and Volcker talked about 10 days ago is DOA on the Hill. Volcker was a mess at the hearings yesterday and the Senators that matter were having none of it.

    Its business as usual.
  3. He sounds like a Fox news reporter
  4. Yeah, does sound truthful.
  5. It's conceivable to me that this is EXACTLY WHAT OBAMA WANTS... to overload our financial system with government and debt and to cause a collapse. Then he can install a "transformation" which will be Socialistic, Dictatorial, Oligarchial.... with him and his Progressive ideologues at the top and the rest of us "equal"... all standing in queue for our ration of potatoes and toilet paper... just like the old Soviet Union before it collapsed.
  6. Yup, that's what he wants and there is nothing you can do about it other than organizing a tea party :D
  7. Perhaps the Tea Party will become the Constitutional Moderates... and any of the current dickweeds in Congress who want to remain in office will come over to the Tea Party side...

    Other than that, or something like it, America has a grim future...
  8. Dick "Lehman is a screaming buy" Bove? Oh right...
  9. Have you heard those party goers speak? They are more like the Constitutional Retards.
  10. And you sound like a typical sub-70 IQ Obama-drone.
    #10     Feb 3, 2010