Bove Demands Goldman Sachs Explain Itself In JPMorgan "Attack"

The war of words regarding the potential break up of JPMorgan is intensifying. Noted Rafferty Capital Markets banking analyst Dick Bove is demanding an explanation from Goldman Sachs for what he says is “throwing the first stone” while JPMorgan is said to have had internal discussions that concluded Goldman needs to get bigger in brokerage to survive.

Readers may recall ValueWalk first reported on a Goldman Sachs research piece that accurately noted government regulations mandating additional capital requirements for big banks increased their costs to the point it might make sense to break up the banking behemoth.

Not so fast, says Bove.

Dick Bove: Goldman Sachs throwing stones from a glass house

Bove did not assault Goldman’s core thesis –...