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Is Meredith Whitney Finished With Citi?

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We casually mentioned yesterday that perhaps Oppenheimer analyst Meredith Whitney ought cut the stand-up from her Citi reports, but only because we think her bits are much (more unintentionally) funnier when she lets the facts (“We’ve got a horrible slogan,” “We just lost a trillion dollars,” “We’re two quarters away from $10”) speak for themselves. But we got so caught up in the fact that she’d make a Stephen Hawking joke that we failed to notice that the dollar dominatrix seems to have sent the message that she’s done with big C entirely.
“We wish [Citi’s] management team all the best in their ambitious endeavors, but we fear [it] is past the point of fixing,” Whitney wrote. Does that not sound like a “Thank you and good night”? “You’ve been a great audience, but there’s really nothing left to say”? Where is she supposed to go from there? (She can't very well start recycling the dividend slashing routine at this point.) Obviously Whitney's grown weary of the 'group, and set her sights on a bigger challenge. We're thinking Merrill, but if you've got a better idea (JPMorgan), feel free to get it off your chest at this time.
Citi Is Beyond Repair [NYP]


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