Noted bank analyst Meredith Whitney slashed her first quarter earnings estimate for Morgan Stanley Wednesday, moving expected earnings per share to 34 cents from 59 cents.
Though she still expects municipal bond defaults and another 10 percent drop in housing prices, the analyst calls the US economy “dynamic and strong” and predicts some states will recover strongly.
To provide you advice on your investments, the "Fast Money" traders on Thursday revealed their best plays.
The words debt and crisis have become terribly associated with each other over the last few years. We have had a mortgage debt crisis, a sovereign debt crisis and now a lively debate over the likelihood of a municipal debt crisis.
Contrarian investors are rapidly becoming the Maytag repairmen of the stock market.
When it comes to her call on municipal bonds, it seems that Meredith Whitney is likely to be right in that Meredith Whitney kind of way.