Ms. Whitney in particular was very good.
Meredith Whitney (click to watch)
'Banks are sitting on trillions of dollars of overvalued assets", "...7 trillion of mortgages were writen with sub 6 % unemployment assumptions and written with the assumption that home prices would not go down, because they never had since the great depression". "Banks were expecting 30 in peak-to-trough housing prices, ... we are a;lready at 30% peak-to-trough... I am estimating we will get to 50%". "Whether they are insolvent, they will not be making much money in the next couple of years".
Roubini and Eric Sprott (click to watch)
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