Hugo - we have our own Chavez according to famed investor Dick Bove:
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Dick Bove Goes Glenn Beck: Compares Obama To Hugo Chavez And Warns Of A Huge Crash
Joe Weisenthal | Jan. 25, 2010, 8:35 AM | 1,420 | 11
www.businessinsider.comThe last time we turned on Glenn Beck he was comparing Barack Obama to Hugo Chavez in a manner that was both ridiculous and entertaining.
And now Rochdale Securities analyst Dick Bove is doing the same thing.
Take it away:
IS A MARKET CRASH LOOMING?
The United States financial system and its economy are at a critical juncture. Actions being suggested in Washington have placed it on a precipice. If the President and Congress continue down the path that each has indicated, in my judgment, the equity markets will crash. Moreover, the financial system will have to be rebuilt on a new base. Shareholders simply refuse to accept what is happening in Washington at the present time.
POLITICAL AGENDAS
Venezuelan Style Democracy
Hugo Chavez maintains himself in power as Venezuela’s President by following a simple path:
He constantly attacks the moneyed classes charging them with creating that nation’s problems. In so doing he keeps the population in a constant state of anger over the fact that it must be made to suffer due to the actions of the rich and what were once the powerful.
President Chavez then acts to penalize the moneyed class by expropriating its wealth, and its businesses demanding that the masses be paid. Mr. Chavez constantly attacks the right of the opposition to dissent. He argues that these people must be quiet.
In the United States a similar style of Democracy is being crafted by its leaders:
It is being argued that the moneyed classes of Wall Street have created the financial crisis through greed and fraud. The U.S. President stated this again last Friday. Additionally, it is claimed that taxpayer money has been misused by the banks.
It is being suggested that the banks have caused the taxpayers to lose money on the TARP funds; that the big banks have not paid these monies back to the government; that the banks have taken from the government the money that was meant to save them, and then enriched themselves with these funds; that men and women in the financial system have reverted to the practices that caused the crisis in the first place.
The population is being driven to a constant state of rage at this corrupt moneyed class reflecting the anger of the President, himself.
Bills are being crafted that will prevent selected members of the moneyed classes from being enriched. The targets are the wealthy moguls of “Wall Street.” The target is also shareholders in financial companies who do not deserve dividends because they caused the financial crisis and have enriched themselves with taxpayer money.
Other bills are being created with the sole purpose of limiting the growth and profitability of the American banking system.
Further, the right to dissent is being vigorously attacked. The evil doers in the moneyed class are being warned repeatedly not to participate in the democratic process; not to use their right of dissent.
They are being told they will be fought and they will be beaten. These people have no right of expression in the new democracy being crafted by the nation’s leaders.
Hey Dick, tell us how you really feel!
