Bank of America's second quarter results topped analyst estimates. Odeon Capital Group Financial Strategist Dick Bove tells Yahoo Finance Live that BofA's results show that "on a year-over-year basis the numbers look pretty good, but on a quarter-over-quarter basis, it shows that there is some weakness developing." Bove also says that the big banks are "feeling the same stress" over deposits. "Banks are cheating the depositors. Basically, banks got this huge windfall gain as a result of something they had nothing to do with, the Fed increased interest rates, and they didn't pass it along to their depositors," Bove said in the interview. Bove adds that "the results is, in a deposit basis, even the big banks are showing declines in deposits."
