Photo: 60 Minutes
A congressional panel that’s looking into why the $3 trillion muni bond market collapsed wants Meredith Whitney “to come clean and explain her doomsday prediction of hundreds of billions of dollars in muni defaults over the next year,” Charlie Gasparino reports.Apparently the controversial analyst has so far “rebuffed the committee’s attempts” to have her testify on February 9 at a hearing, and they might resort to subpoenaing her and her controversial report if she continues to refuse.
When Whitney said on national television that between 50 and 100 major muni bond defaults will probably happen over the next year, investors panicked and withdrew billions of dollars from muni bond funds.
“We want her to fill out her views one way or another,” the committee chair said.
The wrath against this once-golden analyst just continues to mount.
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