“The most alarming thing . is the level of complacency,” says Meredith Whitney,...

|By:, SA News Editor

“The most alarming thing ... is the level of complacency,” says Meredith Whitney, warning about a financial meltdown in state and local governments "in the next 12 months." The size of this calamity? "Fifty to 100 sizeable defaults ... hundreds of billions of dollars."