Meredith Whitney was on CNBC yesterday talking about her new report which places a rating on all 50 states. She started looking at them a couple of years ago in her analysis on the banks and was startled to realize how similar things looked. She thinks a financial crises is coming within the states and that bond holders at the municipal level are going to be very disappointed. I would love to get my hands on this report. She did say Texas is by far the best positioned state. Not even close when compared to other states.
She also talked about how bad a quarter it will be for the banks and discussed some of her thoughts on the economic future.
Video below: (having trouble determining if the video is posting correctly - can be seen here http://www.cnbc.com/id/15840232?video=1602262513&play=1)