Rafferty Capital Markets analyst Dick Bove fears the U.S. is at risk of losing its global position if it continues its current pace of rulemaking, penalties and fines against the likes of JPMorgan, Citigroup and Bank of America. "Banks are in the crosshairs," he writes in his new book, "Guardians of Prosperity: Why America Needs Big Banks." Nonetheless, Bove recommends investors buy shares in the banks. The veteran stock picker tries to reconcile this apparent contradiction in an interview with TheStreet senior writer Dan Freed.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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