Dollar Dominatrix Does Her Thing

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Oppenheimer analyst Meredith Whitney cut her second quarter earnings estimates for Merrill Lynch and Citigroup today, predicting that the firms will lose $4.21 a share and $1.25 a share, respectively, and take writedowns of $5.8 billion and $12.2 billion. Whitney also suggested a reshuffling of management and, taking a cue from fellow analyst Dick Bove, whose reports have really been uppingthe ante of late, suggested Angelo Mozilo to replace incumbent Citi CEO Vikram Pandit.
Merrill, Citigroup Estimates Cut by Meredith Whitney [Bloomberg]

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