Meredith Whitney literally phoned it in to CNBC this morning to discuss the Jersey Shoring-Up Loan. At the end of the discussion, she warned that July 1 is going to be a key date for the muni market, because that’s when new state budgets are going to take effect, slashing aid to many localities, the Wall Street Journal says..
Always the consummate professional scary person, she didn’t rise to a baited question from Carlos Quintanilla, who asked her if she was secretly wishing for a large muni default to make her much-derided call of widespread muni massacres look better.
“Of course not,” she said, unconvincingly, “but it’s sadly an inevitability.” “When I come up with numbers of defaults, I can think of dozens of large ones off the top of head,” she added.
There’s more…Find it at: http://blogs.wsj.com/marketbeat/2011/06/28/meredith-whitney-beware-july-1/
No comments:
Post a Comment