{"id":22127,"date":"2010-10-01T03:49:33","date_gmt":"2010-10-01T03:49:33","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/meredith_whitney_says_states_may_need_federal_bailout_in_next_12_months\/"},"modified":"2010-10-01T03:49:33","modified_gmt":"2010-10-01T03:49:33","slug":"meredith_whitney_says_states_may_need_federal_bailout_in_next_12_months","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=22127","title":{"rendered":"Meredith Whitney Says States May Need Federal Bailout in Next 12 Months"},"content":{"rendered":"<p>The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.\u2019s dividend cut in 2008.<\/p>\n<p>While saying a bailout might not be politically viable, Whitney joined investor Warren Buffett in raising alarm bells about the potential for widespread defaults in the $2.8 trillion municipal bond market. She said state and local issuers have taken on too much debt and that the gap between public spending and revenue is unsustainable.<\/p>\n<p>\u201cPeople will think the federal government will bail these states out,\u201d\u009d Whitney, 40, the founder of Meredith Whitney Advisory Group Inc., said in an interview on Bloomberg Television\u2019s \u201cIn the Loop.\u201d\u009d \u201cIt\u2019s going to be an incredibly divisive issue.\u201d\u009d<\/p>\n<p><a href=\"http:\/\/www.bloomberg.com\/news\/2010-09-30\/whitney-says-states-may-need-federal-bailout-in-next-12-months.html\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. government will face pressure to bail out struggling states in the next 12 months, said Meredith Whitney, the banking analyst who correctly predicted Citigroup Inc.\u2019s dividend cut in 2008. While saying a bailout might not be politically viable,<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=22127\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,149,617,616,151,667,618,619,583,586,596,598,594,584],"tags":[],"class_list":["post-22127","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-economy","category-house-of-representatives","category-office-of-the-president","category-politics-in-general","category-president-barack-obama","category-senate","category-state-government","category-the-2009-obama-administration-bank-bailout-plan","category-the-2009-obama-administration-housing-amelioration-plan","category-the-credit-freeze-crisis-of-fall-2008the-recession-of-2007","category-the-possibility-of-a-bailout-for-the-u-s-auto-industry","category-the-september-2008-proposed-henry-paulson-700-billion-bailout-package","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/22127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22127"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/22127\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}