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IPFS News Link • Government Debt & Financing

The Congressional Show-Trial Of Meredith Whitney Begins Tomorrow

The New York Times is the latest to clock in on a piece regarding Meredith Whitney, and how everyone thinks she's totally wrong on munis. At this point, lines like "“I’ve seen a copy of the report, and frankly, I’ve seen better papers from graduate students in finance,” from a muni bond broker don't raise an eyebrow anymore. What might be interesting is the Congressional hearing being held tomorrow on munis and the turmoil in that market: Citing scheduling conflicts, Ms. Whitney has declined an invitation to appear before the panel of the House Oversight and Government Reform. But the subcommittee’s chairman, Representative Patrick T. McHenry, Republican of North Carolina, said that would not dissuade him from investigating her record. “This isn’t a gotcha thing, but she’s going to be part of the hearing, whether or not she participates,” he said. “If she doesn’t want to come forward in a venue like this, that makes a statement.” Yes, that's not ominous or anything.