Richard Bove Quotes

"The ability to utilize those marketing programs is going to be enormous for Bank of America. You'll see a significant increase in the bank's credit-card activity now that they have MBNA."

"You have to have scale in this business. By doubling the size of their credit-card business, Bank of America will lower their cost of handling each individual account."

"It would have been difficult for Goldman not to do well. Goldman is more oriented to equities than debt, and stocks rose throughout the period."

"Imagine the doctor who built an office next to a Ford factory. If the workers lose their jobs and those benefit plans disappear, this doctor isn't going to be able to afford his office."

"His legacy has been tarnished dramatically in the last few years. He came in with a reputation as a brilliant strategist and he's going out as someone who couldn't manage everything he has under one roof."

"Not only are long-term factors pointing to considerable strength, but short-term developments in the last couple of months have been positive."

"It's increasingly difficult to be a regional broker. There's a lack of trade to worry about, yes, but you're also dealing with pricing weakness, competition from the big New York City companies and the universal banks that offer everything from checking accounts to financial advisory services."

"It's the luck of the draw. Goldman has the assets and the people and the technology and the products out there, and at certain times it all comes together."

"I think they [Citi's new management] are actually turning this monster around."

"The problems in the credit card division are structural, and kind of long-term,"

"I wouldn't own any bank stocks in the Midwest. They're exposed to the problems of the auto industry and the Ford layoffs today are just the latest example."