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Politics : Formerly About Advanced Micro Devices

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To: bentway who wrote (593233)	11/11/2010 7:29:11 PM
From: tejek	of 1581534

Finally someone is telling the truth about political gridlock. Meredith Whitney Speaks Out On Political Gridlock, The Crisis In New Jersey, And The Never-Ending Mortgage Crisis Joe Weisenthal \| Nov. 11, 2010, 4:23 PM \| 1,989 \| 15 Meredith Whitney on CNBC is talking about her big issue, state governments, again. The states where she's warning of huge trouble: New Jersey -- the nominal numbers aren't so huge, but relative to GDP its enormous. California -- part of its huge problem is that the political system is so screwed up, the government can't easily make changes. Illinois and Georgia also in a lot of trouble. As for the level at DC: "Gridlock can put our economy in a very bad state." As for mortgages, she thinks the putback/misrepresentation issue could still be very bad. On QE2: There's so much market expectation for this, there's no way it can deliver. It's complicated and dangerous. This year there will be another leg down in housing, which is a reason banks Read more: businessinsider.com

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