Tuesday, December 20, 2011

One Year Later: Looking Back at Meredith Whitney's Muni-Bond Short

MarketBeat by Mark Gongloff  (WSJ.com)  12/16/11

Muni Bonds Have Not Been Kind to Meredith Whitney This Year

When it comes to muni bonds, this has just not been Meredith Whitney’s year. Municipal bond yields have fallen to a record low, according to Standard & Poor’s indexes, more than a year after Ms. Whitney briefly scared investors away from the muni market with dire warnings of “50 to 100″ big muni defaults, amounting to “hundreds of billions of dollars’ worth of defaults.” Oops!

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