Merideth Whitney was one of a small handfull of people – people with a microphone that Wall Street listens to – who accurately predicted the fall of the financial industry back in 2007. In my book, that’s a feather in her cap.
Another kudos goes out to her for this call, made yesterday. She is right on with the analysis that, A) the “Making Home Affordable” plan signed into law in March by Pres. Obama will be the first bit of government aid that will actually help the homeowner. And, B) this plan will put a LOT more money back onto the balance sheets of large banks and financial institutions.
A win-win. Well, yes. Just don’t look at the taxpayer footing the bill for a third leg. But, for the bank and the underwater homeowner, this can be a good thing. An interesting listen to Meredith Whitney:
Related posts:
