As the Financial Crisis Inquiry Commission continues hearings on Capitol Hill this week, so does the debate over regulation. The head of the Congressional Oversight Panel for the Bank Bailout, Elizabeth Warren, called for sweeping regulation on the show yesterday. Today, we a get a response from the industry.
We talk to brokerage analyst Richard Bove about his thoughts on new regulation, and why he thinks the hearings on Capitol Hill may be more about political grandstanding than meaningful reform.
“I don’t think anyone is going to care right now if we put the regulation on or not, but in three years, people will start to care.”
--Richard Bove, banking equities analyst with Rochedale Securities