Tedamerica

Banks Are Not Reaching Bottom - Meredith Whitney

o Disclosure-just wonderful.

Meredith Whitney did not say avoid bank equities at all costs. In fact she said due to the mark to model accounting rules (not the mark to market) that you should not have any short position in banks until after they report earnings. She went onto say that banks may be stronger and report better earnings then they are expected to. Case in point is Wells Fargo; I expect most banks GS, C and JPM will all break their earnings expectations.

What always amazes me about Seeking Alpha is these people submit their opinion to further their agenda. Simply amazing!