CNBC, 09/10/09, Meredith Whitney says banks are on life support, will not be the leaders

CNBC’s Squawk Box with Joe Kernen, Becky Quick and Carl Quintanilla, Sept 10, 2009. From Meredith Whitney’s website. www.meredithwhitneyllc.com Meredith Whitney is the CEO of Meredith Whitney Advisory Group, LLC, a macro and strategy-driven investment research firm. In 2009, Ms. Whitney was named as one of Time Magazines list of 100 Worlds Most Influential People and was ranked the #1 Investment Analyst in her category by The Wall Street Journal. In 2008, Ms. Whitney was named one of Fortunes Top 50 Most Powerful Women, The Wall Street Journals 50 Women to Watch, Smart Moneys Power 30, and Crains 40 Under 40. Ms. Whitney was also ranked in Institutional Investors 2008 All American Research Team. Well followed for her core research, Ms Whitney and her team also focus on a broad section of financials including large, small, and mid-size banks, brokers, independent commercial and consumer finance companies. Prior to founding Meredith Whitney Advisory Group, Ms. Whitney was a Managing Director and Senior Financial Institutions Analyst for Oppenheimer & Co. Inc. Throughout her tenure at Oppenheimer, Meredith was most noted for her research on the ultimate decline in home prices, the future of the US mortgage industry, and the consumer lending market, including specific focus on the credit card industry. In 2007, she wrote prolifically on the threats surrounding the weighted influence of the rating agencies on regulatory capital determinants and the risks of the monoline …

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