Meredith Whitney speaks again

In times such as these, an analyst really can make a name for herself. Oppenheimer's Meredith Whitney rocketed to fame based in part on prescient prediction that Citigroup would be forced to cut its dividend. She's been a bear for a while now, and judging from her latest report to client, there is no reason for anyone to change stances now. As reported by Portfolio, Whitney says the "real harrowing days" of the credit crunch remain ahead of us. That puts her at odds with the many who say the opposite. In her view, banks will need to cover another $170 billion in loan losses by the end of 2009, and earnings projections are still way too rosy. You have to wonder what it will take for her turn a bit more optimistic.  

For more:
- here's the Portfolio article

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