Tuesday, April 21, 2009

Whitney Expects Banks to Return to 'Negative Earnings’

This is a GREAT VIDEO (if you are a bear). The "The Great White Wash" is on. One time miracles that won't last. This run up is being done for a reason. I hope we all get out with what's left when it does turn. Right now Timmaaay, GS and the Fed are pulling the wool over everyone's eyes. Be careful if you are long or short. This thing is gonna bust one day and it ain't gonna be pretty. She lays it out pretty good here.

"The founder of Meredith Whitney Advisory Group forecast Citigroup will cut at least $500 billion in credit lines and the credit-card industry will cut $2.7 trillion in credit-card lines, which could further pressure home prices as Americans have less to spend." Get you sum of that!

This link may work if clicking on the title of this blog does not work. I really don;t thnk they want you to find this one.


If not it should be on this page. Look to the last article - It may be on page 2.


For another MW video on the banks (from the same interview):


Click on the title for link to Video 1.

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