WhitneyMeredith Whitney, the financial analyst whose prescience on the 2008 Wall Street crisis made her a star, is holding firm on her latest controversial call: that we'll see a wave of defaults by cities and towns on their municipal bond obligations.
"When you have the first group of defaults, you will see indiscriminate selling that would be a buying opportunity for some," Whitney told CNBC, predicting a stampede out of the market. "Because there has been such complacency in the market and muni investors have been talked down to for so long — 'There's nothing to worry about, there's nothing to worry about' — they'll just fly."
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