Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Meredith Whitney Defends Outrageous Muni Prediction

Meredith Whitney defended her outrageous muni default prediction on CNBC:

1. “When I say default, I also mean NOT the technical definition of default” (See video 3:54)

2. “Yes, we have a federal government that can bailout… but who in Nebraska is gonna want to bailout someone in Florida?”

Meredith Whitney predicted a massive wave of munipical bond defaults in 2011 on national TV last Sunday. She expects 50 to 100 SIZEABLE defaults, totaling hundreds of billions of dollars. There were only 64 defaults during the past 30 years.

It’s not a secret that state and local governments are in trouble for a couple of years now. However, Meredith Whitney is predicting several hundreds of billions of dollars’ worth of defaults. This is about 10 percent of the $3 trillion municipal bond market. Insider Monkey doesn’t agree with Meredith Whitney’s outrageous muni prediction. Here is the video:

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...