Meredith Whitney was on FT discussing banks, housing, and the munis.
She says that once the first muni defaults people will sell indiscriminately, and that there will be many more layoffs.
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Shocked that companies and mutual funds would invest OPM (Other People's Money) in high-risk investments, the Shocked Investor was originally on a mission to find out if our money ended up in these dubious instruments. This blog now also discusses other financial topics, such as straddles, options, gold, natural gas, agri/food stocks, and the collapse of the US Dollar.
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