ItsJustMe

Wells Fargo Downgraded: Oppenheimer's Whitney Goes Too Far

In addition to "last fall's" prediction success, Whitney just recently announced that Citi would have to raise additional capital yet again. Did you check yesterday's headlines?

What she's doing isn't rocket science. It's simply looking at the plummeting home values and skyrocketing default rates on first sub-prime, then alt-A and now HELOC's and projecting the coming writedowns.

I have no short position in WFC and don't intend to take one because these banks can hide their problems for months. And I'll offer a warning for bank investors - that's exactly what they're doing. Ignore Ms. Whitney at your peril...