Meredith Whitney’s critics are conmen

posted by
February 7, 2011
by Mark R. Crovelli  
Posted in Commentary

"Given that you stand to make a fortune by buying up bonds that people stupidly sell under rare circumstances, is it conceivable that you would go on television and try to talk people out of selling their bonds cheaply to you? The answer, of course, is that you would never do such a thing as a professional investor. That would be like a homebuyer going out of his way to publicly talk sellers into charging him higher prices, or an art dealer going on television to tell his artists to charge him more. Bankruptcy and unemployment are secured in such ways. Yet this is precisely what we are being asked to believe about bond traders, financial analysts, and other supposedly enlightened personalities in New York and Washington, who have smeared Meredith Whitney in droves in the wake of her bombshell call on the municipal bond market." (02/08/11)  

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