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SPDR Nuveen Barclays Municipal Bond ETF Message Board

  • sin_nickle1 sin_nickle1 Dec 21, 2010 1:09 AM Flag

    This is Bad News

    Christie and Whitney

    States’ fiscal stress may trigger a “spate” of defaults among local municipalities, Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.’s dividend cut in 2008, said in the same segment on “60 Minutes.”

    “You could see 50 sizeable defaults,” she said. “Fifty to 100 sizeable defaults” amounting to “hundreds of billions of dollars.”

    Her comments echoed remarks she made in September in an interview on Bloomberg Television, in which she said the U.S. government will face pressure to bail out struggling states in the next 12 months.

    http://www.bloomberg.com/news/2010-12-20/new-jersey-s -christie-says-day-of-reckoning-has-come-for-state-budg ets.html

    Sentiment : Strong Sell

 
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