Dick Bove: Citigroup Is A SELL & The Obama Bank Tax Is 'Venezuela-Style Expropriation'

CNBC Video: Banking analyst Dick Bove -- aired January 19, 2010

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Bove is mediocre banking analyst but he's correct on Citigroup.  Of the 22 billion shares outstanding, the U.S. government owns almost 8 billion and is looking to sell.  In some quarters, that could be considered a mild stock overhang.

He is wrong, however, about the banking tax.  Though it is mostly for show and might even be unconstitutional, it is a good first step in the direction of fairness for taxpayers.

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Comments

[DailyBail]

BREAKING: China 4th-Quarter GDP Up 10.7% On Year

http://online.wsj.com/article/BT-CO-20100120-717544.html?mod=WSJ_latestheadlines

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personally, i don't believe jack shit that comes out of china in terms of economic statistics...

[RecoverylessRecovery]

"personally, i don't believe jack shit that comes out of china in terms of economic statistics..."

I feel the same way about the U.S. government. And so do millions of investors worldwide.

[DailyBail]

without question...numbers are routinely doctored here....