Dick Bove: Bank Breakup Would Help China Take Over

Dick Bove, a famous bank analyst at Rafferty Capital, thinks that breaking up the big banks would be bad for the United States, and it would be very, very good for China. The analyst’s remarks echo recent comments made by JPMorgan Chase & Co. (NYSE:JPM) CEO James Dimon.

Bove, who was speaking on the CNBC program “Squawk Box,” said that breaking the big four banks in the United States into smaller parts would allow Chinese banks to take over the global financial system. The idea of China controlling the...