Meredith Whitney is back, defending her prediction of widespread municipal bond defaults:...

|By:, SA News Editor
Meredith Whitney is back, defending her prediction of widespread municipal bond defaults: “States have been spending at two-and-a-half times their tax receipts. The states then are cutting off aid to their local governments which rely on them for over a third of their monies. The local municipalities have nowhere to go and their bias is to save their constituents before they save their bondholders.”