Will Dick Bove Stay at Rochdale Securities?
FBN's Charlie Gasparino on Dick Bove's future.
- Duration 4:03
- Date Dec 6, 2012
FBN's Charlie Gasparino on Dick Bove's future.
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Are all right so what is the hottest stock on Wall Street these days -- trades under the symbol DO BE Charlie Gasparino has exclusive details on the bidding war.
For my favorite bank analyst Dick -- -- loved EU.
Is a sweetheart yeah we should point out -- will be has been.
-- been in sort of purgatory.
Since Roche still securities imploded it was a billion dollar on or the -- trade.
By what's been described as a rogue trader here I mean he deserves the presumption of in -- -- innocence and David Miller he was arrested we should point out earlier in the week.
It -- the firm the firm has been closed down.
Since then -- Obey has been in purgatory doesn't know what he's gonna do what we do know this -- -- -- on the Fox Business Network -- -- has received.
Essentially seventeen offers to join while he's narrowed it down to five he's got contracts perform from five firms.
What we do what we also understand.
Is that he believes that he's going to be making a decision on which at least five firms.
He's gonna go to in the coming days now here's the complicating matter.
The man who runs Roche still securities -- guy I know Iraq now they have -- I'm never gonna pronounce an -- opening Iraq up.
His name is Dan Crowley he says that he's close to deal to revitalize the firm hold eight has told them he will stay with with with with with rocket.
I can only tell you -- got a brief conversation debate today he said yes to make of this might soon it's gonna come down in the next day he really didn't say which way he's going.
My gut from talking to people haven't -- a lot of people about this is that he's gonna would probably leave and you go to one of those Bible offers.
And -- you know who are they if these are essentially midsize firms.
Who basically no let me go both -- -- -- because of the simple reason is that so well known -- -- these pretty damn good as well.
And he open source I mean Jamie Dimon we'll talk to you know saying he gets on TV he does business TV all time -- are shown -- Lot of his good.
A lot of what he does is counterintuitive but he's not afraid to get out there -- against the power always going on that's what I was I'm really seeing about his research is that he turns the common thinking on its head you go wow yes I hadn't thought about that and the other.
Yeah he's really Smart and you know listen I disagree with some of the schools and -- at Citi was a goodbye and think that we think that guy I don't think much of Citigroup president.
Although Dick Dick has that you -- you when you listen to me makes sense I don't know why he thinks you know banking is making a comeback like Citigroup -- position pretty well.
What I liked about him I remember early on during the financial crisis and I -- -- -- the financial crisis pretty they're out of exit -- -- -- closer than me.
Tom Dick -- they was a good source and you know early on.
When the Bear Stearns hedge funds from those are the ones imploded first.
And that kind of touched off their fingers when they imploded.
We got values on mortgage backed securities they were heavily invested in mortgage backed securities and -- plummeted right we'll do that and the banks roll hold these things.
A least that's what some analysts thought Dick -- it was one of the few people who -- -- he told me.
Was on on I was on brand X I said.
Dick is -- two different things here it's the funds and Bear Stearns balance -- there they bishops are fancied I'm told is not a affected.
It infected by that bad stuff very toxic stuff and he -- no you're wrong Charlie -- it is really early on.
Bear Stearns is holding this and a lot of these places are but you know he was really early on had and I have to give -- -- so I hope the best from five offers -- -- here.
He's gonna make a decision it's coming down it's coming down the next state could -- -- you know we needed this week or next week.
And the company matter is this gonna Crowley does he I yelled to his friends -- -- I think that's there's some loyal.
-- bond yet yesterday you're talking about all the layoffs it's interesting in this climate echo bay is fielding all of these offers it to shows Hudson crop top talent has -- on top talent -- and you know what the -- -- on -- he's a brand -- you know and they you know get a big book coming down -- crime doesn't yet.
And that's good but he had brand and -- brands there you know in tough times you wanna bring it right you go with the brand.
Past Charlie -- -- not so much senate staff.
Finger pointing foot dragging its service and now gang inside.