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IPFS News Link • Economy - Economics USA

MEREDITH WHITNEY: Wall Street's As Bad As I've Ever Seen It

•, Linette Lopez
 Meredith Whitney was on CNBC yesterday chatting with Maria Bartiromo about her call on municipal bonds.

Toward the end of Whitney's discussion, though, she shifted her focus to the current state of Wall Street.

With Ben Bernanke continuing policies that support the equity market, stocks, especially financials, have been doing pretty well. So is it time to start putting your money on (and not just in) banks again?

"The large banks I don't like so much... What the banks will do in Q3 is write up assets because of the QE3 purchasing programs so you have a risk-on trade... a trade is not my idea of investing. I like to buy long term growth investments...We'll see what happens with the mortgage purchase going on. I think Wells is going to be an interesting name... Wells has a very large mortgage portfolio."