Friday, November 2, 2012

Counterparty: "Did Apple's Slide Just Blow Up Dick Bove's Employer?"

From Bloomberg via ZeroHedge:
And it was shaping up to be a slow news days. From Bloomberg:
  • ROCHDALE SAID TO SEEK CAPITAL INJECTION AFTER TRADING ERROR
  • ROCHDALE EXECUTIVES SAID TO TIE CAPITAL SHORTAGE TO APPLE TRADE
  • ROCHDALE SECURITIES ANALYSTS INCLUDE DICK BOVE
By that logic, can one imagine the epic bailout Rochdale would need if Bank of America trades back to its rightful price well over 50% below current levels? Also, why is Rochdale trading on its own account?