From ZeroHedge who seems to be taking far too much pleasure from this story:
Dick Bove's "Too Little To Fail" Employer Needs Up To $1 Billion Bailout
The saga of Rochdale, or the firm that is now officially Too Little To Fail, following its hilarious screw up in Apple trading as reported previously, when it got the size if not direction of AAPL stock post earnings wrong, and as a result the guy who otherwise would have had a massive X-mas bonus has been outed as a "rogue trader", is nearing its logical conclusion.
What happens next? DBRS buys them for their strong integrity and work ethic? The NYT gets a licensing deal and makes Dick Bove into a political forecaster taking advantage of his infallible predictive Black Box (see his Bank of America reco rating below)? Inquiring minds want to know.
- ROCHDALE SAID TO BE IN ADVANCED RESCUE TALKS AFTER APPLE TRADES
- ROCHDALE'S APPLE TRADES SAID TO RANGE FROM $750 MLN T0 $1 BLN
- ROCHDALE SAID TO POTENTIALLY ANNOUNCE DEAL AS EARLY AS TODAY