This transaction, if it occurs, would be a major plus for the company.
More Quotes from Richard Bove:
I think that if we were talking about this kind of mortgage market four years ago, it would be a real crisis for Lehman. But today, given the kind of diversification they've done, it's nowhere near a crisis.Richard Bove
It's a significant amount of stock coming to market. But it's a pretty liquid stock and they've been buying back shares over time. We don't think the impact will be that significant over the long run.
Richard Bove
If you look at volume on the New York Stock Exchange and the Nasdaq over the last five years, there's been no real increase in the number of shares traded. In addition, proprietary trading has gone from 19 percent to 52 percent of that total. So you're seeing more competition for fewer individual trades.
Richard Bove
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.
Richard Bove
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.
Richard Bove
The problems in the credit card division are structural, and kind of long-term,
Richard Bove
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