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Wednesday, December 10, 2008
7:33 AM TweetThis
  • Meredith Whitney on CNBC: She's still more bearish than she's been over the last 18 months. Consumer hasn't factored in until now: banks are pulling consumer lines of credit and Americans are at risks to lose their jobs, which will pressure spending.
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This news story has 2 comments:

  •  
    It's hard not to agree with Meredith Whitney, but I really do. With unemployment still rising, that means continuing job losses; higher credit card and mortgage default rates; cutbacks in consumer spending. Add to that the fact that banks will have no choice but to pull credit lines as Banks evaluate risk in their accounts.
    2008 Dec 10 07:54 AM | Link | Reply
  •  
    And that's before Obama relaxes the personal bankrupcy rules as he promised to do in his campaign. Add the credit card debt to the default pile. More government loans for the banks and more dilution of shareholder interest.

    But keep buying stocks guys! Next step Dow 14000!!!!!!!!!!! LOL
    2008 Dec 10 08:32 AM | Link | Reply
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