BTW.....she said up to 200 issues would default.
THEre are 42,000 ISSUERS....hundreds of thousands of Issues. Whoopdee do!
No analyst is right all the time, but Whitney does her homework and has a great track record. Sure, she predicted defaults, but she was quite specific and limited in the failures she was predicting and the why.
I think she faces the same issue that Palin does, which is that it is somehow easier for both the male and female ego to be beat by a man, than by a woman. And yes, Gasparino has a big one.
Whitney’s track record speaks for itself. Chuckleheads like Gasparino trashed her in 2007 when she told the world the banks were in big trouble and the first step would be Citi cutting its dividend. After the chattering media moutpieces trashed her for about 2 weeks for being an “alarmist”, Citi shocked the world by cutting its dividend which flagged the beginning of the financial meltdown.
She’s spot on about the muni’s as well. An analyst can’t create or destroy value - Gasparino is an apologist for politicians who have created this mess. Analysts can only predict and comment. Seems like Whitney is the only one with foresight to figure out what’s coming down the pipe and the guts to call it like she see’s it.
I know for certain I wouldn’t own any muni bonds right now, though I imagine many from the center of the country will do fine (as Whitney said they will)
Gasparino disqualified himself from serious economic commentay when he proved during the 2008 disaster to be the mouthpiece for market manipulators. His Friday afternoon “exclusive, breaking” stories on Ambac and MBIA became a predictable joke.
Sounds pretty consistent. When she said that Citi was going to have to suspend it’s dividend, and the stock cratered, she got death threats.
Lots of them.
The one thing that makes the recent fraud on Wall Street so outlandish is the lengths to which the supposed “watchdogs” are going to enable any and all fraud and cover-ups of the fraud.
I’m still waiting to see criminal charges brought against the management of Lehman, even as it is now quite clear that they were engaged in securities fraud. I suspect I’ll still be waiting in 10 years, too.