Meredith Whitney defends her 60 Minutes claim that a wave of municipal defaults will spark a...

|By:, SA News Editor

Meredith Whitney defends her 60 Minutes claim that a wave of municipal defaults will spark a selloff in muni bonds, hurting economic growth and causing "a lot of social unrest." And there won't be any bailouts, she says: "Who in Nebraska's going to want to bail out someone in Florida?" These 16 cities face bankruptcy without big cuts.