Meredith Whitney: "Unemployment is headed to 13%"

[JAP]

Quote from mgmaggie:

She is just as corrupt as the rest. How any one can upgrade a stock on the eve or close to reporting, is criminal. She upgrades Goldman the only one out of 7-8 Financials I believe she watchs.

Somewhere she got / was bought and the worse thing about people like her is they have no fiduciary responsibility for their actions. Absolutely no recourse, just another person in Goldman's pocket. You would think with all the news over the last year about corruption this type of behaviour not be allowed.

In my personal opinion it is criminal how she upgrades Goldman on news CIT Group is in trouble, just a Tim's statements. To convenient.

Hell, I'm happy with the move not the method.

Nice post.

The GS boyz must have made her an offer she couldn't refuse.

 

[fkbsuhites]

Mafia style

Box full of money or the bullet.

Your pick

Quote from JAP:

Nice post.

The GS boyz must have made her an offer she couldn't refuse.

 

[austrijec]

so much for listening gurus....

no free lunch out there !

 

[CET]

If you look at the people out of work, and not just those out of work and actively looking, then I believe the unemployment rate is already 16%. I don't study the numbers in detail, but I think the real rate is the U6 figure that is published. I am sure someone can provide more details on this.

 

[kxvid]

Its funny how she's like buy BAC its cheap, and at the same time predicting 13% unemployment. I don't know how she reconciles those two.

 

[IanMacQuaide]

Quote from kxvid:

Its funny how she's like buy BAC its cheap, and at the same time predicting 13% unemployment. I don't know how she reconciles those two.

Enough cash can reconcile a lotta things.

 

[CET]

If I recall correctly she said earnings for the second quarter will be greatly benefited by the huge number of refinancings and by some favorable tax changes (MTM). Then she expects earnings to get much worse for the banks later this year since the refi wave is over and the consumer is pulling in spending and banks are greatly reducing credit to consumers on credit cards. :eek:

 

[maxitronixy]

i think it was said the trading that accounts for the supposed "1.4 billion profits" for Gs recall the rally in march that lifted the market and the sudden rally in commodities. "concidental"?

 

[IanMacQuaide]

Quote from CET:

If I recall correctly she said earnings for the second quarter will be greatly benefited by the huge number of refinancings and by some favorable tax changes (MTM). Then she expects earnings to get much worse for the banks later this year since the refi wave is over and the consumer is pulling in spending and banks are greatly reducing credit to consumers on credit cards. :eek:

Not to argue, but to illuminate a point, albeit anecdotally.
Banks won't refi houses cuz appraisals come in too low, due to the precipitious drop in house values.
So there goes that idea.

 

[Ivanovich]

Quote from kxvid:

Its funny how she's like buy BAC its cheap, and at the same time predicting 13% unemployment. I don't know how she reconciles those two.

Because if you've listened to her analysis, she's clearly saying that you should buy banks on the great government ride of the century. She's not saying they're attractive investments. She's saying they won't be allowed to fail and will continue to remain profitable on taxpayer/government dollars. In actuality, she's telling you the game is rigged so don't fight it.