Meredith Whitney: I no can haz cheesburgr

Discussion in 'Economics' started by Covertibility, Dec 19, 2011.

  1. Muni GO Bonds Hang Tough

    November 30, 2011

    Despite the financial problems of governments, defaults during the "Great Recession," as some have dubbed the recent economic crisis, have largely been concentrated in the riskiest sectors. According to one study, defaults on municipal debt increased from $329 million in 2007 to almost $7.8 billion in 2008. In 2009, the default total was $6.3 billion, followed by another decline to $3.6 billion in 2010. In another study, Bank of America pegged municipal defaults through September 30, 2011, at $1.1 billion, one-quarter the 2010 level. Local GO bonds accounted for only 1% of 2011 failures.

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    Fed hasn't updated it yet but no doubt it'll continue to be positive.

    Markets and reality are too complicated for some people.
     
    #11     Dec 19, 2011
  2. Wouldn't it be great if these so called experts had to give back ALL their salaries when they blew a call like this.

    What good is it when they get paid huuuuge money to be wrong, right, wrong, wrong, right, wrong, right, just like you slobs.
     
    #12     Dec 19, 2011
  3. This has to stop. Bold public calls like this one and like one about bonds someone else made not long ago and proved flat wrong must be met with drastic means. The price of democracy should not be and must not be an infinite tolerance for wrongdoing:

    http://en.wikipedia.org/wiki/Flagellation
     
    #13     Dec 20, 2011
  4. Froglet

    Froglet

    what a giant engorgment.

    munis are litearlly the same as t-bills. lolz.......... anything US backed! a muni blows up. FINE, just restructure.. still US..

    way better than investing in province w/ buildings that can't sustain .01 magnitude earthwauqke.
     
    #14     Dec 21, 2011