Richard bove on bank of america

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Bank of America Corp., the largest U.S.

lender by assets, has sufficient capital, said Richard Bove, an analyst at Rochdale Securities.

“There’s no reason for the bank to have to go out and raise capital whatsoever,” Bove said in an interview today with Bloomberg Television’s Margaret Brennan.

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Bank of America has fallen more than half in New York trading this year amid speculation that costs from mortgage disputes will drain capital.

Henry Blodget, the former Internet analyst turned blogger, wrote on Business Insider today that writedowns and loan costs may force the Charlotte, North Carolina-based firm to raise as much as $ billion.