Staff writer Inga Benz
20. Dec. 2010 09.12 clock
The famous Wall Street analyst Meredith Whitney has appeared on 60 minutes on Sunday evening and expressed an ominous prospect for the municipal bond market. She said that the State fiscal problems may cause an "avalanche" of default in the communities.
According to Whitney, "you could see 50 major downtime. Fifty to 100 significant losses" amounting to "hundreds of billions of dollars." She believes that in the next twelve months to save the U.S. Government Printing face struggling states. Whitney is also bearish on Wall Street looking for its banks called in advance of the financial crisis, announced in 2008.
New Jersey Governor Christie Chris also talked about 60 minutes on the terrible circumstances that face the American states. He said: "The day of reckoning has come, it is and it happens everywhere .."
Tremors have swept the Muni bond market in recent weeks. Lost (NYSE MMUB) more than 5% since November 8 for the iShares S & P Municipal Bond Fund ETF.
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