Dick Bove isn't a buyer of Goldman's (NYSE:GS) plan to boost revenues by $5B, in part, by becoming more of a retail bank. Trying to "muscle-in" to highly competitive businesses dominated by bigger companies is not typically a formula for success, says Bove.

Then there's the trading slump, and Bove isn't sure the bank's maybe too fat and happy leadership can pull off any real change.

"Goldman perceives itself to be a partnership composed of extremely capable individuals ... It has yet to admit that since 2006 it has one of the worst records of any of the nation’s big six banks. It appears to be blind to its clear weaknesses.”

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