Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley lagged behind peers in a key measure of capital strength used by U.S. regulators to stress- test their resiliency in a severe recession.
Goldman Sachs Group Inc. should replace its top executives because they failed to understand the politics of the financial crisis and mishandled regulators’ claims of fraud against the firm, according to Richard Bove, an analyst at Rochdale Securities.
Financial institutions shouldn’t be required to measure risk against a benchmark portfolio because it makes no sense, said Richard Bove, an analyst at Rochdale Securities LLC, in reaction to comments from Citigroup Inc. Chief Executive Officer Vikram Pandit.
Citigroup Inc. , the U.S. lender emphasizing international growth, may benefit as Japan rebuilds from last week’s earthquake and the Middle East rebounds from political turmoil, according to analyst Richard Bove .
MF Global Holdings Ltd.’s bankruptcy filing may prompt the U.S. Federal Reserve to “rethink” the definition of systemically important firms and to expand its oversight, according to bank analyst Richard Bove.
Legislators who don’t understand the banking industry and a sense of “mass hysteria” led to the passage of a financial-reform law that will hurt U.S. consumers, said Richard Bove , an analyst at Rochdale Securities.