The Oracle speaks. Star banking analyst, Meredith Whitney has finally broken her silence on the good bank/bad bank proposal that's currently being floated as the administration's response to the banking crisis. She is the most important banking analyst on the Street and deservedly so. It turns out that Ms. Whitney is none too amused with the idea of burdening taxpayers with this pile of toxicity, and she states bluntly that it will NOT work. Get her view in detail from 4 sources including the original Oppenheimer report pdf. after the jump.
There's also word this afternoon that New York AG Andrew Cuomo is looking into clawing back the $15 billion of your money that Merrill used for bonuses just last week. There are 22 afternoon links after the jump.
Obama speaks out against wall street bonuses ok. words are one thing. now show us some claw-backs.
Clusterstock Says at least $2 Trillion of your money for next phase of bank bailout Clusterstock gets it wrong. Total Cost to Taxpayers will be in excess of $4 trillion according to Roubini and others. And what do i find now? A report saying the cost will be $4 trillion.
A few links never posted in any of my daily bailout news round-ups are listed below. Some are a few days old but worth the look:
Repeat from yesterday: a parody of 15 corporate logos highly recommended hat tip to eli again