What is the reason for Meredith Whitney gets more cautious?
Meredith Whitney Gets More Cautious, Mostly (GS) Meredith Whitney has come out with some key takes this morning that may be raining on the bull’s parade. For starters, Whitney was just named as the #39 on the list of Fortune’s 50 Most Powerful Women. But after that, the pleasantries slide away and she put on the roar of the bear once again. In a CNBC interview she panned banks noting that the powers driving banks will not be the same in the near future. On housing, she believes that the drop in housing prices is not over and said that housing prices could fall another 25%. Here she sees a supply jam more than a vicious cycle as well as unemployment and exotic mortgage resets that makes the price drop inevitable. She thinks Florida has a massive leg down coming in another wave. She also thinks spending is going to be lower. She said originally that she sees $2.7 trillion in credit being pulled out of the system by the end of 2010. So far she noted that we are $1.25 Trillion of the way t
Meredith Whitney has come out with some key takes this morning that may be raining on the bull’s parade. For starters, Whitney was just named as the #39 on the list of Fortune’s 50 Most Powerful Women. But after that, the pleasantries slide away and she put on the roar of the bear once again. In a CNBC interview she panned banks noting that the powers driving banks will not be the same in the near future. On housing, she believes that the drop in housing prices is not over and said that housing prices could fall another 25%. Here she sees a supply jam more than a vicious cycle as well as unemployment and exotic mortgage resets that makes the price drop inevitable. She thinks Florida has a massive leg down coming in another wave. She also thinks spending is going to be lower. She said originally that she sees $2.7 trillion in credit being pulled out of the system by the end of 2010. So far she noted that we are $1.25 Trillion of the way there, but consumers are now de-leveraging and are
Meredith Whitney has come out with some key takes this morning that may be raining on the bull’s parade. For starters, Whitney was just named as the #39 on … Sources: http://news.google.com/news/url?sa=t&ct2=us%2F0_0_s_1_0_t&usg=AFQjCNFAbXuMhCpofYRRGPzmR3m5ZpnmOQ&cid=1310447987&ei=XCmpSqjXJKnm9ATGg7eIAg&rt=SEARCH&vm=STANDARD&url=http%3A%2F%2F247wallst.
