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Tuesday, February 8, 2011

The Meredith Whitney Saga

If you have been following the sad saga of the Muni bond market, you have undoubtably heard of Meredith Whitney's doomsday call for something like 50 to 100 defaults, a call which has brought her under fire from the Wall Street establishment, a fact which means that she is probably right. Now, it appears that Congress wants her to explain her call in Congressional testimony ("Ms. Whitney, are you now or have you ever been a Bear?")
So far, she has told them to stuff it, and I hope she continues. I have learned that there are a few people who, if you ignore them, you do so at your peril, and Meredith Whitney is one of them (by the way, Bill Gross isn't).

Go Meredith!

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