Meredith Whitney was an obscure Oppenheimer & Co. bank analyst back in 2008 when she broke from the pack and predicted Armageddon. She was right, the pack was wrong, and she parlayed her new-found fame into a research boutique of her own.
Last year she went for it again, predicting that the next big crisis would be in municipal bonds, as U.S. cities, counties and states ran out of money and started defaulting. This call didn’t pan out as quickly:
July 15, 2011 — Time is running out on the credibility of Meredith Whitney, who has yet to acknowledge that her eight-month-old prediction of widespread defaults this year in the market for state and local government debt is proving unfounded.