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In this interview segment, Whitney sticks to her claim that "the worst is not over" for the financial industry, and says the credit crisis is moving into a new phase in which bank on-balance sheet lending will "shut down" and overall mortgage lending in the US will decline.
Also up for discussion: how banks will use (or not use) the Troubled Asset Relief Program (TARP), accounting for investment losses and writedowns, bank earnings and business restructuring/resizing, government ownership of banks, and looming problems associated with credit card debt and the "de-risking" of available bank credit.
Having said all that, enjoy the interview.
Related articles and posts:
"Whitney: Credit crunch 'far from over'" - Finance Trends Matter.
"Meredith Whitney on the Banks" - Jesse's Cafe Americain.