November 10, 2008
Meredith Whitney, the Citi Killer and one of the first analysts to predict in 2007 that banks would face enormous write-downs and balance sheet problems as a result of the housing downturn, expects the US government to have to take further measures to back the banking system, “either by raising capital for these banks or do a stimulus program directly to the consumer”.
She finds it hard to see how a new US administration under president-elect Barack Obama will be able to “rerail the economy after it’s been derailed.” She says the economic crisis is not just Wall Street’s issue; Washington was also involved.
Click the Financial Times' report video
Sources :
- The Financial Times: Meredith Whitney expects banks will need more government aid
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