Meredith Whitney is back, warning that the ramifications from Detroit's bankruptcy will be felt...

|By:, SA News Editor
Meredith Whitney is back, warning that the ramifications from Detroit's bankruptcy will be felt far and wide, from bondholders to taxpayers. Problems in local governments have been glossed over for years, she tells CNBC. Detroit isn't a one-off, she warns in FT, saying the fiscal structure of many big U.S. cities is unsustainable. In 2010, Whitney predicted a wave of municipal defaults, which hasn't happened - yet.