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Politics : Welcome to Slider's Dugout
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To: Nihontochicken who wrote (8795)3/27/2008 4:32:25 PM
From: Nihontochicken  Read Replies (1) of 50469
 
CNBC interview with Meredith Whitney of Oppenheimer today at 4:15PM EDT, a few of her comments (paraphrased):

- Banks are holding on to their CMO assets in hopes that in time the value of this paper will go up from where it would sell for today. This is incorrect, these CMOs will continue to decrease in value with time. The banks should sell those assets now and take their lumps.

- This financial reversal is nowhere near over, it's a death of a thousand cuts, and the banks' current strategy is only prolonging the agony.

- Ask whether there are any banks she would buy, "Even the banks I like, I don't like. In time they will all get cheaper."

FWIW.

NC
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