Monday Oct 4 2010
Meredith Whitney was one of the first to highlight the banking crisis. Now she joins yours truly in spotting the next disaster, state and municipal obligations.
One of my themes is that we are now in a New Civil War. The high tax union shop states (all run by Democrats) are losing business and population to the open shop states. As Meredith says, what will happen when Virginian and Texas are demanded to bail out Michigan ?