Crash?

I have never agreed with much Dick Bove has to say and think he rather arrogant. But I must say, I agree with him that we are going to have a market crash.



This is not necessarily a bad thing. The unhealthy bubble economy and a stock market driven by money flows and speculation, instead of profits, must come to an end.

Growth for the sake of growth is like cancer to a healthy economy.

I am all for Obama and Volcker's plan. Capitalists....we can't have it both ways. The creation of FDIC and the concept of TOO BIG TO FAIL have created giant moral hazard problems.

You cannot take government money (taxpayer $) and gamble with it, (you got lucky and won this time) reap huge profits, and then expect the taxpayers to be happy about it while they are losing their home because of YOUR rampant speculation, manipulation, and greed.

We need a moral Capitalism. The market is the arbiter of this, and when the government steps in and saves the bad guys from themselves the moral hazard and incentive problems in the system multiply.

I am sorry, but if we have FDIC and TOO BIG TO FAIL, we must bring back Glass Steagall as a counter balance.