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IPFS News Link • Government Debt & Financing

Muni Bloodbath: Meredith Whitney Has Wall Street Unhinged

Is Meridith Whitney the most hated person on Wall Street right now? It seems like it. Ever since her big star turn on 60 Minutes last December, one investors after an other has come out of the woodwork to slam her forecasts. Yesterday Charlie Gasparino accused her of costing taxpayers millions, and he demanded that she show her infamous report (which hasn't been seen by many people). The latest is muni manager Lyle Fitterer, a muni bond manager (who obviously has a major stake in seeing the market not collapse). He told Bloomberg he has a hard time getting to $10 billion in defaults, let alone $100 billion. Another investors, Thomas Metzold of Eaton Vance, called Whitney's prediction: "outlandish and outrageous." We'll just say this, if she's right, it's going to be the sweetest "toldja" victory party of all time.