Sunday, September 2, 2012

Grim News: Meredith Whitney(the ‘Prophet’) Predicts 50,000 Bank Layoffs




Meredith Whitney appeared on “Bloomberg Surveillance” with Tom Keene and Scarlet Fu and said that the banking industry will lose 50,000 more jobs as companies shrink headcount to match revenue.  She said, “I would argue the banks have not overfired and are really middle of the way through firing.”

Whitney also said that PNC Financial Services, U.S. Bancorp and Wells Fargo & Company (WFC) are attractive stocks…..

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