• 28 Jun 2011 at 4:49 PM

Meredith Whitney: GIRD YOUR LOINS

New Jersey’s move to take out a short-term $2.25 billion loan to pay its bills is symbolic of how difficult state and municipal financing will be in the year ahead, analyst Meredith Whitney told CNBC Tuesday…she said these types of moves will be mere warning shots as states approve their spending plans for the fiscal year ahead—running from July 1 to June 30—and balance those budgets by cutting local aid. “That’s what’s really going to hurt. So the pain of the states is just upon us,” said Whitney. “What you’ll see now is as the states are submitting final budgets, you’ll see the real pain at the municipal level start happening July 1. That will intensify and that’s where you’ll see the fallout.””That’s what’s really going to hurt. So the pain of the states is just upon us,” said Whitney. “What you’ll see now is as the states are submitting final budgets, you’ll see the real pain at the municipal level start happening July 1. That will intensify and that’s where you’ll see the fallout.” [CNBC]

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Comments (27)

  1. Posted by Guest | June 28, 2011 at 9:07 PM

    I keep hearing it but I aint’ seeing it.

  2. Posted by Gov Chris Christie | June 28, 2011 at 9:18 PM

    In a slight revision to my adamant statements on FOX News last night, allow me to clarify that when I said that I was opposed to recognizing gay marriage in the state of NJ, it meant me, personally. As for the state; not only are we recognizing it, we are having a sale on it at the state house tomorrow at noon where we will marry all 750,000 of you who have petitioned me, at the discounted rate of $3,250 each bringing in just over $2.250B to our great state.  For the record, I remain staunchly against legalization of marijuana in any form including medical, at least until our next budget shortfall. 

  3. Posted by Dr. Rosenrose | June 28, 2011 at 9:19 PM

    I think you’re forgetting about a little financing tool we call the “debt bond”, Ms. Whitney.
    -Illinois

  4. Posted by derp | June 28, 2011 at 9:32 PM

    How can a fiscal year last -1 days?

    -AIG quant

  5. Posted by LEH Quant | June 28, 2011 at 9:36 PM

    It’s a typo, idiot. Days can’t be negative. It’s almost like having 3.5 people. It’s impossible to have .5 people. People are always integers. Days are always positive. You are no quant.

    -LEH Quant

  6. Posted by Karl Hungus | June 28, 2011 at 9:45 PM

    Tranny hooker no talk

  7. Posted by Sundance Square Quant | June 28, 2011 at 9:47 PM

    Just heard that the Greatest Genius of the Natural Gas World, Aubrey McClendon will be interviewed by Cramer tonight re all the NYT muckraking about shale gas.  I supposed Dykstra was unavailable and MW is otherwise occupied. 

  8. Posted by Daniel | June 28, 2011 at 9:48 PM

    Yes, No, No.  O, shit.

  9. Posted by RBS Lobster Quant | June 28, 2011 at 9:49 PM

    “People are always integers…….”

    That’s racist.

  10. Posted by Jared | June 28, 2011 at 9:56 PM

    Looks like MW is the lock out replacement for Tuck and Strahan on the $5 ft long Subway ad campaign

  11. Posted by Villanova Quant | June 28, 2011 at 10:41 PM

    Salon notes ownership of 200 ultrashort muni ETF shares in a private account.

  12. Posted by Guest | June 28, 2011 at 11:12 PM

    I’ve got her $5 footlong right here.

  13. Posted by 25th Hour Trader | June 28, 2011 at 11:16 PM

    At some point her call on munis will be right b/c an asteroid will hit the earth (and all of its municipalities).  Until then, as my golden retriever would say, she is R-O-N-G.  Time to pull pitch on this one MW. 

    Source: Trader who learned the hard way repeating the merits of a losing position does not make it a winning position. 

  14. Posted by Feverish Clicker | June 28, 2011 at 11:35 PM

    I’d hit it

  15. Posted by Guest | June 28, 2011 at 11:41 PM

    Hydrocephalus is a bitch!

  16. Posted by DSK | June 29, 2011 at 12:02 AM

    Not sure but I think I’d like to gird loins together with Meredith. Something about smart dominant women

  17. Posted by Beta_is_a_bitch | June 29, 2011 at 12:32 AM

    I’m pretty much up for anything, but this Meredith gal is into some twisted shit.

    – Guy who things S&M stands for sick and mutilation

  18. Posted by InfiniteGuest | June 29, 2011 at 12:40 AM

    Know how I know you’re gay?

  19. Posted by Another LEH Quant | June 29, 2011 at 12:44 AM

    I worked with LEH Quant, and he considered some of his best friends rational numbers.

  20. Posted by Verklempt | June 29, 2011 at 1:42 AM

    Ray Lewis v Meredith Whitney…. discuss

  21. Posted by guest | June 29, 2011 at 2:52 AM

    Amazing that McClendon would be available for a media interview.  He’s such a hermit.  

  22. Posted by Mexi-Cant | June 29, 2011 at 2:56 AM

    Two fine specimens of savage beasts.

  23. Posted by Villanova Quant | June 29, 2011 at 4:45 AM

    not gay.  not even a fan of gay.

  24. Posted by AmericanBandersnatch | June 29, 2011 at 11:19 AM

    I find her disquiet a turn on. Lights on, her bent over a desk, while she goes on an on about why her call is still correct while I tell her how right she is.

  25. Posted by Guest | June 29, 2011 at 12:00 PM

    Who cares about NJ? Talk about the global economy if you want to make some waves

    – N. Roubini

  26. Posted by The Observer | June 29, 2011 at 1:30 PM

    There is some sort of trunk joke here.

  27. Posted by jimmy | July 20, 2011 at 3:17 PM

    listen little robot followers , meredith does her homework not like just sign this bill before you read it and we’ll let you know what’s in it. SHE KNOWS