Two things:
First, Meredith Whitney has been dead wrong on her forecasts and recommendations. If you want to make money you will need to do the opposite of her recommendations. Hence, Santelli’s question as to how many municipalities have defaulted on their bonds this year. It is well below last year, yet, Whitney had forecasted a significant increase in defaults.
Second, what ticked me off is the CNBC stooges who were hosting this program. Joe Kernen, you were one of them, who simply sat there and said nothing in response to her attack. It took several minutes for Santelli to come on the air from the Chicago trading pit for someone to give this idiot “what for”.
Exactly. Where was Kernan?