We suggested last week that Oppenheimer analyst and erstwhile Citi hater Meredith Whitney had grown tired of Panditville. Her last report, in which she concluded, "We wish [Citi's] management team all the best in their ambitious endeavors, but we fear [it] is past the point of fixing," seemed to imply that her interest in relentlessly defecating all over the C was waning, and that she'd be scaling back her life's work, perhaps to devote more time and energy to hawking her husband's liquid Viagra. But we never thought for a second we were on to something. Then lo and behold:
The analyst [Meredith Whitney] lowered her 2008 outlook for JPMorgan Chase, Citigroup, Bank of America and Wachovia. She, however, cut her second-quarter earnings view for Bank of America and JPMorgan while raising it by a cent each for Citigroup and Wachovia.
We're just going to assume that this is Part One of a two part rope-a-dope scheme in which Whitney gets Citi's hopes up and then body slams them in a way only a woman who's husband is a former pro-wrestler and is now trying to sell a berry-flavored "sexual endurance drink" called Mamajuana knows how.
Oppenheimer's Whitney Sees Credit Crisis Well into '09 [CNBC]