Last fall, Meredith Whitney made a prediction. Perhaps you remember it? It was part of a report called “Tragedy of the Commons,” wherein the analyst said that there would be “hundreds of billions of dollars’ worth” of municipal-bond defaults a’ coming. While some agreed with her, a vocal contingent did not. Charlie Gasparino, for instance, said that in his infinite wisdom, Whitney’s call suggested she “had been lobotomized.” Now, after several months and dozens of calls to the cops to request they remove Chaz, standing on her lawn yelling “Show me your books, Whitney!”, does MW stand by her analysis? You bet your ass she does and you what to know another thing? She welcomes the haters.

“There’s nothing controversial about that call, if you look at the numbers,” she said today, later adding: “This municipal issue, you can criticize me for anything you want, I’m numb to it, because I have more conviction on this than I’ve had on any single thing in my career.”

[Bloomberg]

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Comments (66)

  1. Posted by Meredith | May 4, 2011 at 11:31 PM

    Municipal bondage rated CC+ for C-leavege.

  2. Posted by Homer S | May 4, 2011 at 11:37 PM

    Mmmmmmmmmmmmmm. Cleavage

  3. Posted by Tom | May 5, 2011 at 12:15 AM

    apparently, getting her face frosted by a wrestler hasn’t helped her rational thought

  4. Posted by Guest | May 5, 2011 at 12:19 AM

    There may be nothing controversial about her analysis or “call” but the way she went about disseminating that information should be investigated. Institutional clients (obviously paid for this right) receive her “call” in September and have until December to buy protection or otherwise exit positions before she goes on CNBC to spread the word to mom and pop that their bonds are going to be worthless. Why December? When balance sheets are being wound down and desks are understaffed? Why not October if default is so nearby? She makes Raj with his $63mm insider trading case look like a piker. Meredith knew exactly the market response she would elicit with the puffed-up reputation (one-call – not even hers or that much of a stretch) given the pedestal she has been thrust upon.

  5. Posted by Guest | May 5, 2011 at 1:04 AM

    -Making news is not illegal unless its “false”

    -Analysis is not “inside information” per se

    -Making an investment thesis public is not illegal

    -Trading on Analysis is not illegal

    -To the extent her biz is client driven…she’s probably not holding directly a position

    - So what’s your point? Her client driven fees are indirectly correlated with her call?

    - Duh?

    Respectfully,

    Capt. Obvious

  6. Posted by The Observer | May 5, 2011 at 1:26 AM

    It moved. Wait, it’s still going…

  7. Posted by Guest | May 5, 2011 at 7:35 AM

    Oh dear. She’s not too confident on MWA LP then.

  8. Posted by Anonymous | May 5, 2011 at 1:03 PM

    Someone’s been reading the CFA ethics section

  9. Posted by That's What She Said | May 5, 2011 at 1:09 PM

    i would love to give her the ‘motorboat’

    ~ The Motorboat Guy

  10. Posted by Wahoo | May 5, 2011 at 1:54 PM

    Lobotomized… You mean, like she can start fires, with her thoughts?

  11. Posted by Muni Boy | May 5, 2011 at 2:03 PM

    Lobottomized
    Lotopized

    Any position she wants……..

  12. Posted by Ubssucks | May 5, 2011 at 2:51 PM

    Imagine how that cleavage would look if she had a push up bra. WTF is she thinking letting those old puppies sag like that?

  13. Posted by Elaine Decoulos | May 5, 2011 at 6:50 PM

    Has anyone noticed the recent judgment in a muni bond insider trading case against a former star fund manager, David Baldt, while working at the English firm, Schroders in Philly? All very nasty. Tragic that the SEC went after him over what went on during the crisis in October 2008. It appears he was hung out to dry by Schroders:

    http://www.philly.com/philly/blogs/inq-phillydeals/Bond-buyer-Baldt-barred-for-insider-trading.html?text=reg&c=y

  14. Posted by Elaine Decoulos | May 5, 2011 at 6:50 PM

    Has anyone noticed the recent judgment in a muni bond insider trading case against a former star fund manager, David Baldt, while working at the English firm, Schroders in Philly? All very nasty. Tragic that the SEC went after him over what went on during the crisis in October 2008. It appears he was hung out to dry by Schroders:

    http://www.philly.com/philly/blogs/inq-phillydeals/Bond-buyer-Baldt-barred-for-insider-trading.html?text=reg&c=y

  15. Posted by nomo robots | May 7, 2011 at 4:35 PM

    believe her robot people , she does her homework!!!!! finally someone with some class and brains. LISTEN ROBOT PEOPLE!!!

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