ABA’s Stalling Of Regulators A Good Move: Richard Bove

The recent move by the American Bankers Association to stall the implementation of a portion of the Volcker Rule relating to CDO is a welcome move for America, notes Richard X. Bove. Richard X. Bove, Vice President Equity Research of Rafferty Capital Markets LLC points out that it is necessary for banks and their trade groups to sue the government and the regulators to demand some restraint out of an out-of-control system. ABA urged regulators to scrap a portion of Volcker Rule Earlier this week, the American Bankers Association urged regulators to scarp new provisions under the Volcker Rule, threatening…