Welcome to TishTrek - THE JOB BLOG!
It's time to stop the savage & contrived attacks on Meredith Whitney - one of the premier analysts on the planet! (2.9.11, WSJ - "In Muni-Bond Ills, Danger & Hope," M. Corkery - pg 1 & NY Post - "DC tackles munis", P. Tharp)
Ms. Whitney's hard line view on struggling municipalities across America
should inspire solutions. She's a brilliant & proven leader with the smarts, objectivity, iron will and management courage to call things as she sees them. I heard her loud & clear in 2007 and I'm listening now.
What she understands is that states & municipalities 'must' borrow billions of dollars no matter how high their revenues go because it is what they do to fix "shortfalls in cashflows;" it is "how they pay past-due bills;" and how they "pay for required contributions to those pension systems." She concludes that this debt path is not sustainable and I'd say the residents in NJ, CA, IL and NY are living her point.
Since 2007, the condescending efforts to smear Ms. Whitney and to banish her industry opinions to some "Boom Boom Room" have mostly been launched by 'the same exact people' who ruined our economy and failed the global companies that trusted them.
Respectfully submitted,
TishTrek
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