Dick Bove: Unregulated Bank Regulator
on Tuesday, June 27, 2017Dick Bove Money Quote saying that Richard Cordray, director of the Consumer Financial Protection Bureau, (CFPB) can’t be controlled by Trump or any bank. Dick Bove said:
“The fear among bankers is that there’s this guy out there, and he can do whatever he wants, and nobody can stop him, I would be afraid too if I were a bank” — Dick Bove
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In this quote, Dick Bove is referring to the fear that bankers have of an individual who has immense power within the financial system that is unchecked.
By saying “there’s this guy out there, and he can do whatever he wants, and nobody can stop him”, Bove implies there is a looming threat, likely regulatory in nature, that bankers perceive as being outside of their control.
The overall interpretation is that Bove believes some bankers worry about disruptive forces beyond their influence that could significantly impact the banking industry, and that such uncertainty would understandably inspire concern from their perspective.