Meredith Whitney tells banks to ‘deal with it’

{ Posted on Jan 31 2009 by Zac Bissonnette }
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Oppenheimer analyst Meredith Whitney -- one of the handful of people to predict the current mess -- says that allowing banks to move "toxic" mortgages off their balance sheets is only part of the solution to the current mess.

Ms. Whitney told Fortune that a "bad bank" plan would help banks improve their balances sheets but that the more serious problems would still be there: The declining economy will cause an ever-increasing percentage of good assets to go bad while simultaneously killing demand for the other services banks offer.

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Meredith Whitney tells banks to 'deal with it' originally appeared on BloggingStocks on Sat, 31 Jan 2009 17:10:00 EST. Please see our terms for use of feeds.

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