Nobody in the media has apparently seen Meredith Whitney’s mammoth report on municipal bonds.
But there is a 43-page summary that’s been floating around. It’s what Bloomberg’s Max Abelson saw in his big piece on her that was published yesterday. And we know others have seen it as well.
And now we have it. And since we believe in democracy, we thought we’d share the notable parts with you.
Now, warning. This is a well-traveled document. It’s clearly a photocopy of a photocopy of a photocopy. Much of it is totally illegible. But if you squint you can make out the arc of her argument.
UPDATE: Lawyers at MWAG have asked us to take down most of the document, but we’re leaving in our titles summarizing the arc of the report. We’ve replaced the images with pictures of Meredith Whitney.