BoA stock continues to fall, but Dick Bove says that some of the fears driving its descent are unwarranted.
Bank analyst Dick Bove has been making the cable TV rounds, trying to tamp down on the Bank of America (BAC) panic. Specifically, he argued that the troubled company has enough money to cover potential losses related to its mortgage portfolio, and that its falling share price should not necessitate a new capital raise. Here is what he told Bloomberg TV:
Here is a related video from Fox Business News: