Meredith Whitney still firm on muni market prediction

When Meredith Whitney speaks, people listen. She entered the municipal bond market conversation again today just as confident as ever. Meredith Whitney made, what some media analysts have been branding, a controversial prediction about the next financial crisis. In a 60 Minutes interview on December 19, 2010, she claimed that 50 to 100 cities, towns, and counties would default on debt that would result in hundreds of billions of dollars in municipal bond defaults. Those with interest in the municipal bond market went bonkers over her prediction. She’s been laying low over the past few months, but today at the Milken Institute Global Conference in Beverly Hills, she stood by her claim. “This municipal issue, you can criticize me for anything you want, I’m numb to it, because I have more conviction on this than I’ve had on any single thing in my career.”

You can see the full panel discussion here, and a recap by Reuters here.



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