New York soon will no longer be the financial capital of the world thanks to a hostile government that has served up a menu of punitive regulations aimed at driving big banks out of the country, analyst Dick Bove told CNBC.
In his latest broadside against the post-crisis regulatory environment, Bove asserts that a recent spate of layoffs, particularly by Goldman Sachs, is just the latest sign that large financial institutions will have to take their operations overseas.
The result, he says, will not be good both for New York and the nation. “The United States has adopted, as part of its core financial policy, the view that big banks are not good for the country, its economy, or its financial system,” the Rochdale Securities analyst writes in an analysis for clients. “Simply stated, the United States does not want them. A series of rules have been put in place to assure that these banks are inhibited in both their growth and profit goals…..”
Find out more at http://www.cnbc.com/id/43607872
No comments:
Post a Comment