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Dick Bove Goes For The Post-Lehman Twofer: MF Global Is Fine

Tyler Durden's picture


Three years after upgrading Lehman days ahead of its bankruptcy, here is Dick Bove on CNBC last week assuring anyone idiotic enough to listen to him that, you guessed is, MF Gloal is fine and a buyer will promptly materialize. How much longer will the Comcast financial comedy channel tolerate this individual?


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Mon, 10/31/2011 - 10:30 | 1828321 nope-1004
nope-1004's picture

LMFAO.  Richard Bove needs to shut up.


Mon, 10/31/2011 - 10:33 | 1828340 Hard1
Hard1's picture

Are you crazy?? if he shut's up we'll miss out on the most profitable contrarian ideas!

Mon, 10/31/2011 - 10:34 | 1828346 philipat
philipat's picture

Is it true that he is running away with Meredith Whitney?

Mon, 10/31/2011 - 10:35 | 1828352 philipat
philipat's picture

Sorry, it might have been Abby Joseph Cohen.

Mon, 10/31/2011 - 10:38 | 1828359 MillionDollarBonus_
MillionDollarBonus_'s picture

This is a tragedy. Our Federal Reserve has failed the American people by removing MF Global from their primary dealer list. The Fed could EASILY have provided emergency funding to save MFG from bankruptcy. Choosing your own primary dealer is a HUMAN RIGHT, and this bankruptcy represents a serious loss of freedom and liberty.

Mon, 10/31/2011 - 10:51 | 1828432 philipat
philipat's picture

@MDB. More misunderstood sarcasm ;-) It just doesn't get understood in the US does it?

Back to the thread, however. You know, the Fed is running out of customers. Even the Chinese no longer want to buy. How can an honest central banker hope to get rid of all this green we are printing? Shit, at this rate we may have to give it away?

Mon, 10/31/2011 - 10:55 | 1828462 dwdollar
dwdollar's picture

Dick Bove looks like Helmut Bakaitis who played "The Architect" in the Matrix. However, when he opens his mouth and utters something like "the banks are well capitalized" you realize he's not very good at math, thusly spoiling the illusion.

Mon, 10/31/2011 - 11:06 | 1828531 DeadFred
DeadFred's picture

But he really likes Italian bonds, that shows him for the fount of wisdom that he is. (s/)

Mon, 10/31/2011 - 12:19 | 1828761 TruthInSunshine
TruthInSunshine's picture

The cnBSc Comedy Channel & Sell-Sider Anal-Cysts marches on to lower lows.



Dick 'Buy Bank of America w/2 Fists' Bove

James 'The Winners of the New World' Cramer

Jim 'Dow 36000' Glassman

Steve LIESman

Bob 'I Couldn't Fill My Dad's Shoes' Pissanti

Abby Joseph 'Destroy Your Portfolio' Cohen

Barton "Fall Asleep & Drool After Soft Food Lunch" Biggs

Llazllo 'Just Square Whatever My Last Uber-Bullish Projections Were' Birinyi




Mon, 10/31/2011 - 12:38 | 1828819 Don Birnam
Don Birnam's picture

Bove, Birinyi, Cramer, Joseph-Cohen, Ralph Acampora, and Joe LaVorgna should form their own start-up business news network -- web-based only -- moderated by Dan Dorfman. 


Mon, 10/31/2011 - 14:19 | 1829191 TruthInSunshine
TruthInSunshine's picture

Very nice work there. I especially appreciate the Ralph Acampora, Joe LaVorgna and Dan Dorfman references, which my list above was seriously flawed without their inclusion.

Also, Ron 'Inane' Insana... does anyone know if he's been bullish or uber-bullish since he failed at his attempt to run a hedge fund (i.e. anything other than bloviate and engage in SWAGing on the teeeveee).

Mon, 10/31/2011 - 21:52 | 1830477 Fish Gone Bad
Fish Gone Bad's picture

Dick A Bove.  Dick above.  Coincidence?  I think not.

Mon, 10/31/2011 - 10:59 | 1828501 HoofHearted
HoofHearted's picture

Out of a helicopter...with a guy whose beard is as nice as my plumber's being the one shoving it out...

Mon, 10/31/2011 - 11:19 | 1828580 Kayman
Kayman's picture

at this rate we may have to give it away?

Give at away ?  That would be an improvement.  Right now they're paying the PD's to take it !

MF Global isn't the only PD that can't play "hot potato"

Mon, 10/31/2011 - 11:13 | 1828556 malikai
malikai's picture

We need to take a serious look at how important these great banks are to our economy. Only then, can we step up to the plate and accept a new World Banc backed currency. First, we need to take advantage of these exceptional interest rates and recapitalize these banks. Once complete, we can then have our leaders discuss the unification of all peoples.

Mon, 10/31/2011 - 11:14 | 1828559 common_sense
common_sense's picture



  REALLY   F E D   U P  OF   B A I L O U T S !!!

Mon, 10/31/2011 - 11:39 | 1828647 wisefool
wisefool's picture

The funny thing about this is that Bove is now on Bloomberg saying that "CEOs can be rogue traders too". CEOs can also be both state govenors and senators who have the authority to put you in jail if you refuse to pay taxes for the bailouts of these revolving door crony capito(a)lists.

Mon, 10/31/2011 - 11:16 | 1828568 Kayman
Kayman's picture


yeah, some days I'm thick as a brick.

You are indeed, the comedic counter point.

On a serious note, what shall we do when the Fed files for Chapter 11 ?

Mon, 10/31/2011 - 12:57 | 1828876 TheBillMan
TheBillMan's picture

Way too damn funny...

Mon, 10/31/2011 - 10:37 | 1828367 SheepDog-One
SheepDog-One's picture

Well we'd still have RoboTrader as the ultimate fade indicator.

Mon, 10/31/2011 - 10:55 | 1828476 kito
kito's picture

you mean the ultimate faded indicator. robos famous spot on calls are always after the fact.............

Mon, 10/31/2011 - 10:46 | 1828417 NumberNone
NumberNone's picture

Agreed.  Everytime he opens his mouth he proves what an assclown he is.  In light of Corzine's Goldman Sachs background and clearly where he learned his's nice to reflect on Bove's recent comments on GS...

“Goldman Sachs is the scapegoat of our time,” Mr. Bove said.

Thanks Dick.

Mon, 10/31/2011 - 10:56 | 1828479 Zero Govt
Zero Govt's picture

Bove said Goldman Sucks is the "scapegoat" or "escape boat" ?

given Blankfeins $100m Bonus heist from a bankrupt Goldman i presume he meant the latter

Mon, 10/31/2011 - 11:29 | 1828609 eureka
eureka's picture

Bove, Birinyi, Biggs... blow, blow, blow, little bitches - 

B-NAMES are little blow-horns for the big blow-horns: Bloomberg, CNBC, MSNBC

Mon, 10/31/2011 - 12:26 | 1828794 He_Who Carried ...
He_Who Carried The Sun's picture

Bove in Latin means "Ox".

Mon, 10/31/2011 - 10:29 | 1828324 Irish66
Irish66's picture

once an idiot, always an idiot

Mon, 10/31/2011 - 10:37 | 1828370 I am more equal...
I am more equal than others's picture

Isn't Bove short for Bovine.  Dick Bovine.  A bull's dick.  Soft and short and bald.  Sort of like liesman without the beard.

Mon, 10/31/2011 - 10:45 | 1828413 Schmuck Raker
Schmuck Raker's picture

"Dick Bovine.  A bull's dick."

A delicacy some places...Eat The Rich.

Tue, 11/01/2011 - 02:23 | 1830957 Problem Is
Problem Is's picture


Aren't you a Banana Split??

Wed, 11/02/2011 - 00:16 | 1835647 Schmuck Raker
Schmuck Raker's picture I am.

Eat me?

Mon, 10/31/2011 - 10:30 | 1828326 bob_dabolina
bob_dabolina's picture

That's funny

Mon, 10/31/2011 - 10:30 | 1828327 Chasecran
Chasecran's picture

He makes a great clown for halloween

Mon, 10/31/2011 - 10:34 | 1828330 DormRoom
DormRoom's picture

How interconnected is MF Global?  Is it too interconnected to fail? Is this a Bear Stearns moment, leading to a Lehman moment.


stupid modern finance.  Too many bromance links.



Mon, 10/31/2011 - 10:38 | 1828374 Bananamerican
Bananamerican's picture

If MF Global is able to streamline its Long Term Capital Management, it may the year 2525

Mon, 10/31/2011 - 12:07 | 1828745 Blano
Blano's picture

Nice old song reference.

Mon, 10/31/2011 - 10:51 | 1828454 Quintus
Quintus's picture

If it were that connected, it wouldn't have been allowed to fail.


Mon, 10/31/2011 - 11:12 | 1828553 DormRoom
DormRoom's picture

if it was too interconnected to fail, it would politically imposibble to rescue.  Neither party wants to be seen as bailing out another bank. 


shrugs.  let's see how the cookie crumbles.

Mon, 10/31/2011 - 11:17 | 1828576 common_sense
common_sense's picture


Mon, 10/31/2011 - 10:32 | 1828336 sunnydays
sunnydays's picture

How can anyone really  believe any thing the media puts out.  When MF Global goes down and people lose a lot due to it going under, will CNBC replay this clip?  Those who are asleep will be waking up to what the media does by putting people on to mis lead them.

Mon, 10/31/2011 - 10:32 | 1828338 FranSix
FranSix's picture

Negative nominal interest rates on the three month treasury bill(discount rate) as low as they've ever been:

Mon, 10/31/2011 - 10:33 | 1828341 Cone of Uncertainty
Cone of Uncertainty's picture

Hey come on, he said he wouldn't want to buy the stock.


What afucking waste of bandwidth.

Please turn yourself in to the retard police Dick.

Mon, 10/31/2011 - 10:33 | 1828345 the not so migh...
the not so mighty maximiza's picture

Bove should be arrested for disinformation... and shot

Mon, 10/31/2011 - 11:09 | 1828541 junkyardjack
junkyardjack's picture

Only Occupy Wall Street gets that treatment

Mon, 10/31/2011 - 10:35 | 1828350 lolmao500
lolmao500's picture

From Greece :

Announcing the measure in a desperate attempt to plug a budget black hole, the finance ministry warned that failure to pay the tax would automatically result in power supplies being disconnected.

Mon, 10/31/2011 - 10:36 | 1828355 ZackAttack
ZackAttack's picture

He's just obeying his master's voice. He probably thinks what he says is as stupid as we do.

Mon, 10/31/2011 - 10:36 | 1828360 RobotTrader
RobotTrader's picture

If he was pushing DECK or LULU, he would have lots of credibility right now.

Both ignoring the bad news and they keep grinding up.

The U.S. Consumer keeps spending come hell or high water.

Mon, 10/31/2011 - 10:39 | 1828379 SheepDog-One
SheepDog-One's picture

Yea hows your NFLX doing, RearViewTrader?

Mon, 10/31/2011 - 10:50 | 1828448 krispkritter
krispkritter's picture

He installed the rearview mirror so he can see how his Date Nights are going...

Mon, 10/31/2011 - 10:44 | 1828402 bob_dabolina
bob_dabolina's picture

lol...Deckers Outdoors -.25

Mad cred 

Mon, 10/31/2011 - 11:02 | 1828517 Tyler Durden
Tyler Durden's picture

Perhaps stick to rearview "forecasts"

By RobotTrader 10/30/2011


Yep, any news of paper manipulation or the failure of a firm like MF Global causes everyone to shoot and sell PM's first, ask questions later.


I guarantee you that most retail stocks tomorrow will be unfazed.

Mon, 10/31/2011 - 11:25 | 1828598 malikai
malikai's picture

C'mon. Why do you got to kick him in the balls like that?

Mon, 10/31/2011 - 11:31 | 1828623 Kayman
Kayman's picture

She's got balls ?

Mon, 10/31/2011 - 12:28 | 1828798 TruthInSunshine
TruthInSunshine's picture


Mon, 10/31/2011 - 10:36 | 1828361 fuu
fuu's picture

His head looks like a dick.

Mon, 10/31/2011 - 11:04 | 1828525 TuesdayBen
TuesdayBen's picture

If your unit looks like that, dial up Lorena Bobbitt.

Mon, 10/31/2011 - 10:37 | 1828364 TuesdayBen
TuesdayBen's picture

Why, I listened to Mr. Blove, I mean Bove, just this morning on Bloomberg Radio, still opining authoritatively on the MF Global situation....

Mon, 10/31/2011 - 10:38 | 1828368 scatterbrains
scatterbrains's picture

I wouldn't be surprised if our controllers picked Bove to sling the bullshit just because his name sounds like bovine.

Mon, 10/31/2011 - 10:37 | 1828369 BeatTheMarket
BeatTheMarket's picture

He is a dick...

Mon, 10/31/2011 - 10:38 | 1828371 lizzy36
lizzy36's picture

How does this ASSHOLE still get air time.

In capitalism when one is CONSISTENTLY and DANGEROUSLY WRONG there are supposed to be consequences.The lose of credibility, the lose of ones professional standing.

Why is this one of the ONLY places in the world that strives to do better?

Where is the accountiabilit? Why do i still morn for the time when being wrong, when doing a shitty job, when striving to be nothing better than your frat brother, had real life consequences.

Mon, 10/31/2011 - 14:24 | 1829220 malikai
malikai's picture

It is entirely possible that he did exactly what he was supposed to do. Either he did it willingly (criminal), or he did it unwillingly (criminally neglegent). Either way, he got paid for a reason.

Mon, 10/31/2011 - 10:39 | 1828378 RobotTrader
RobotTrader's picture

Why doesn't Bove recommend CMG instead of MF?

Apparently there is an acute shortage of burritos.


Mon, 10/31/2011 - 10:56 | 1828481 oddjob
oddjob's picture

Because Bove is a Bank analyst.

Mon, 10/31/2011 - 10:39 | 1828380 css1971
css1971's picture

Could you call this, 'Doing a Cramer'?

Mon, 10/31/2011 - 10:39 | 1828384 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Does Bove still trade?  Because if he does then he must have been bankrupted by now.

Mon, 10/31/2011 - 10:40 | 1828387 Josh Randall
Josh Randall's picture

Memo to self:  follow Bove and bet against it

Mon, 10/31/2011 - 10:40 | 1828388 Racer
Racer's picture

Like Hanky panky Paulson saying fannie and freddie were perfectly okay just before they weren't

Mon, 10/31/2011 - 10:40 | 1828389 marcusfenix
marcusfenix's picture is fine, in fact everything is fine, Europe is fine, the US is just ducky, the banks are fine, the jobs market is fine, housing is fine, freedom, liberty and justice for all is fine, govt for the people by the people is fine...and the global paper economy? well, that to is fine.

we have entered into a golden age of progress, prosperity and uber fineness. I'm fine, you're fine, we're all fine.

It's fine me.

at least, that's what Satan keeps whispering in my head...

Mon, 10/31/2011 - 10:40 | 1828391 PhD
PhD's picture

No worries! Its just the 8th largest bankrupcy in US history. No worries! Buy buy buy

Mon, 10/31/2011 - 10:41 | 1828395 Ted Baker
Ted Baker's picture


Mon, 10/31/2011 - 10:44 | 1828398 knukles
knukles's picture

That's the job I want.  With full dental, medical, defined pension, profit sharing, 401k, executive bonus pool, cost of living allowance, ongoing tuition for professional education (he's set a standard, folks) travel and living allownaces, perdeim reimburements, upgraded travel, unlimited access to the mini bar and hotel porn suites, and best of all...

....can be an absolute unfucking mitigated dumb ass clueless screwup with no negative consequences to his career or profile.

Mr. Bove we all should aspire to you.

(soft sobbing sounds, repeating fuck me, fuck me, fuck me) 

PS Telling about CNBS, eh?

Mon, 10/31/2011 - 10:57 | 1828488 Dr. No
Dr. No's picture

We have to wonder how long can we continue to violate the laws of nature.  There are many other examples of humans who have been deemed successful, yet no one can seem to understand why.  On a long enough time line, our species is doomed.  But whn guys like Bove continue to be held in regard, I cant help but think that time line is getting shorter.

Mon, 10/31/2011 - 10:58 | 1828495 PhD
PhD's picture

Its harder then you think knuckles! 

talking through your ass takes years to learn and moving your mouth in sync is on the borderline of multitasking.

What we are dealing with here is a true master of the art!

Mon, 10/31/2011 - 11:06 | 1828399 SheepDog-One
SheepDog-One's picture

What really gets me is no one on CNBC has enough respect even for themselves to question Bovine about how he can say a Chap 11 company is 'just fine'? And even if they ARE just fine, then what kind of stunt are they pulling by filing a Chap 11 then?? No questions about any of this? Just waving pom poms is all that matters?

Even street corner whores have far more self respect than CNBC anchors.

*update* Tyler figured out why, MF Global owes CNBC one MILLION dollars! lol

Mon, 10/31/2011 - 10:45 | 1828408 ItsDanger
ItsDanger's picture

So obvious that something is going on here.  Where is the DA office.  Oops, your article hints at it already.

Mon, 10/31/2011 - 10:45 | 1828409 haskelslocal
haskelslocal's picture

To call CNBC the "Financial Comedy Hour" IS to fill it with clowns like Dick Bove. The joke is on watching it for anything more...

Mon, 10/31/2011 - 10:46 | 1828410 Tsunami Effect
Tsunami Effect's picture

Richard X. Bove Joins Rochdale Securities STAMFORD, Conn.--(BUSINESS WIRE)- APRIL 1, 2009- Rochdale Securities LLC is pleased to announce that Richard Bove has joined the firm. Mr. Bove, a distinguished industry veteran, covers the financial services and banking sector. We are really excited to have Dick, and his team, join us. Such a prominent and respected analyst, in a sector so important to the markets these days, is a tremendous addition to Rochdale's growing platform” said Dan Crowley, president of Rochdale. Rochdale Securities has been adding to its equity research and sales & trading platform in recent months and regards Mr. Bove as an integral contributor in their product build out. Mr. Bove's research has received recognition from a number of industry sources over the years. He has appeared approximately 400 times in recent years on the popular business channels. He is also extensively quoted in the print media.

From time to time, Mr. Bove has been contacted by the banking regulators up to and including the White House for his thoughts on the industry.

Also joining Bove at Rochdale as institutional salespersons are Joseph Bove and Andrew Massey.

Mon, 10/31/2011 - 10:46 | 1828420 Canadian Dirtlump
Canadian Dirtlump's picture

Dude looks like a white washed version of the rent is too damn high party of new york steward Jimmy McMillan..

Oddly his inane ramblings are right on par with his as well.


Mon, 10/31/2011 - 10:47 | 1828424 catch edge ghost
catch edge ghost's picture

I feel lied to - and dirty. I'll have to be more careful with headlines.

Mon, 10/31/2011 - 10:47 | 1828425 SheepDog-One
SheepDog-One's picture

Its not 'capitalism' when the CEO of the 8th largest Chap 11 ever in history walks away with $12 million dollars...WTF is this shit!

Mon, 10/31/2011 - 10:48 | 1828437 Dingleberry
Dingleberry's picture

Cramer needs to send Bove a thank you card......without Bove Cramer would look like the biggest clown on bubble-vision.

Mon, 10/31/2011 - 10:49 | 1828442 Bartanist
Bartanist's picture

Has anyone else noticed that moreso recently it seems as if most of the guests are READING their lines? It did not seem this way in the past, but poor old Dick was certainly reading his lines there.

Mon, 10/31/2011 - 10:50 | 1828446 bluelou
bluelou's picture

To be fair, Bove said that he was "not recommending the equity".  Unfortunately for him, he stuck his neck out on the idea that a buyer could be found quickly.

"Those who say don't know. Those who know don't say." -Lao-tzu   

Mon, 10/31/2011 - 10:52 | 1828463 sheeple2012
sheeple2012's picture

that little punk Terranova needs to be bitch slapped too

Mon, 10/31/2011 - 10:54 | 1828469 HD
HD's picture

Indeed. He's almost always wrong and when he's not he's obnoxious.

Mon, 10/31/2011 - 10:56 | 1828478 AngryGerman
AngryGerman's picture


nearly as good as the european solution

Mon, 10/31/2011 - 11:01 | 1828507 Mr Drysdale
Mr Drysdale's picture

Is he related to Karl Rove by chance?

When they both speak it is sh*t, possibly a "brove" move?

Mon, 10/31/2011 - 12:57 | 1828875 Canadian Dirtlump
Canadian Dirtlump's picture


he isn't related to Rove, but I do believe he is slated to do a duet with the lovable satanic neocon.

Mon, 10/31/2011 - 11:01 | 1828512 Executioner
Executioner's picture

"How much longer will the Comcast financial comedy channel tolerate this individual?"
For as long he keeps doing the same?

Mon, 10/31/2011 - 11:10 | 1828545 unununium
unununium's picture

WTF was he talking about, Goldman was going to buy MF "for its assets" without mentioning the crushing liabilities?

100% pure unadulterated high-proof snake oil.

Go ZH you are doing yeoman's work today.

Mon, 10/31/2011 - 15:50 | 1828563 joq
joq's picture

When will this Dickhead shut the f**k up, I am tired of his nonsense.

Mon, 10/31/2011 - 11:23 | 1828592 undercover brother
undercover brother's picture

He's a party line guy.   Bought and paid for and he'll always be available despite his lack of credibilty because he's willing to say whatever the check writers want.   Just simply do or think the opposite and you'll be fine. 

Mon, 10/31/2011 - 11:29 | 1828613 Nucking Futs
Nucking Futs's picture

What CNBC needs to do is require anyone coming out to pump/reassure/lie about a stock to show how heavily long they are in it.  With a follow-up interview of them trying to save face after the stock thorougly dies.  Then releasing a DVD called CNBC's Greatest Hits of all these shills getting their ass handed to them.  I'd buy it.

Mon, 10/31/2011 - 11:41 | 1828660 Atlantis Consigliore
Atlantis Consigliore's picture


Arent we all shocked just shocked a clearing firm was taking such

positions of $ 6.3 B in Sovereign Crap.... like a Grenade with the pin pulled.

Mon, 10/31/2011 - 11:42 | 1828663 Bansters-in-my-...
Bansters-in-my- feces's picture

"you gussed is"..???


Good weekend.still hung I guess.

Mon, 10/31/2011 - 14:01 | 1829079 Biosci
Biosci's picture

Yep.  Still hung.

Mon, 10/31/2011 - 11:44 | 1828671 Bansters-in-my-...
Bansters-in-my- feces's picture


You are a delusional mother fucker.

Fuck off and die,shill.

Mon, 10/31/2011 - 11:54 | 1828710 Blame Crash
Blame Crash's picture

"how much longer"?

As long as their sponsors continue paying them!

Now where's my prize? 

Mon, 10/31/2011 - 12:18 | 1828772 Todd Horlbeck
Todd Horlbeck's picture

I don't like Bove, but he did say don't by the stock.  Also, it seems he was saying there were interesting parts for Goldman.  It didn't sould like a ringing endorsement.


Mon, 10/31/2011 - 13:19 | 1828918 JW n FL
JW n FL's picture



'US State Dept mafia hiding Iraq fraud & weapons hard-sell'


$60 billion was misspent in Iraq and Afghanistan

Citing “sensitive information” – the public will not be able to view the report until 2031.



Mon, 10/31/2011 - 13:26 | 1828942 JW n FL
JW n FL's picture



Goldman Sachs the Vulture / Bottom Feeders of the World.. Doing God's Work and adding Luquidity to the Market as sub par values!

The Untied States is run by Bottom Feeders.. or people who create value added situations..

America is run by Bottom Feeders.

Mon, 10/31/2011 - 14:07 | 1829114 Pancho Villa
Pancho Villa's picture

Dick Bove is the Henry Blodget of the finance industry.

Mon, 10/31/2011 - 14:52 | 1829330 lolmao500
lolmao500's picture

Well it's fine... if you give them 44 billion. But short of that, no they are not fine.

Mon, 10/31/2011 - 21:57 | 1830493 Artful Dodger
Artful Dodger's picture

Even worse is the text at the bottom of the screen that says "[MF] CFO SAYS FINANCIAL POSITION IS STRONG".  Can't these executive-demons be prosecuted for this? Any of them, even little MF Global?

Tue, 11/01/2011 - 02:04 | 1830940 honestann
honestann's picture

CNBC == paid fraudsters == no surprise.

Tue, 11/01/2011 - 02:28 | 1830962 Problem Is
Problem Is's picture

Who's the flat chested homely chick with the bubba teeth???

Bove's sister?

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