Whitney was a guest on Squawk Box Monday morning. She issued the highest forecast for unemployment I've seen anywhere--boldly predicitng at least 13% before the cycle turns. She also raised her short-term outlook on Goldman Sachs and select other banks as a trading call on this Q's numbers.
Whitney:
- "Unemployment is likely to rise to 13 percent or higher and will weigh on the economy for several years, countering government efforts to stabilize the banking industry," said Whitney.
- "We underestimate how much the whole economy is dependent on the mortgage industry, and that has to change," Whitney said. "This is what happens when you delay the inevitable. We're buying time here, but we're not restructuring the economy."
