Will Meredith Whitney's apocalyptic predictions of municipal defaults be proven right in the...

|By:, SA News Editor

Will Meredith Whitney's apocalyptic predictions of municipal defaults be proven right in the end? Moody's says that in Q3, the 5.3-to-1 ratio of muni bond downgrades to upgrades was the highest since the financial crisis began. Also, "a rapid deterioration in credit metrics led to a higher-than-average 14 multi-notch downgrades."