It would be a “moral disaster” if the United States were to default on its debts and become unable to pay its obligations, Jamie Dimon said at an appearance in Colorado Thursday evening. The U.S. is the financial linchpin of the world, and the economic effects of the U.S. defaulting could be “potentially catastrophic,” he said at a dinner for the University of Colorado Denver Business School. “It will dwarf Lehman,” Dimon said. [HP]
Meredith Whitney: “I have more conviction on the municipal bond call than I’ve had on any single thing in my career”By Bess Levin
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. Read more »
Don’t freak out though, it’s not a big deal. Uncle D says this is nothing to worry about. Read more »
Don’t worry about the strategy- the name is the hardest part and we don’t have a lot of time. Read more »
“Where am I going to be in a year? Let’s put it this way, I’m going to be living the dream.” Hint: known for his deep in the money calls, this person has been described as one of the greatest minds on Wall Street, who in addition to his market moving prognostications, is known for his love of private flying and fear of indoor plumbing. [CNBC]
Pack your bags, Timbo. It’s been real. In other good-for-Vickles news, analyst are predicting that Citi will post profits of of a whole nickel per share tomorrow, in which case you can probably expect something like this to go down in the C-suite in about 18 hours. Read more »
Just an FYI, a certain someone is available to take over, should anyone be wanting to get a short list of candidates together.