Whitney: Home Prices To Fall Another 30%, Banking Crisis To Mid-2010
CNCB:
Banks' 1st-Quarter Results May Show Improvement: Whitney
Bank earnings may show some improvement in the first quarter, though the sector still has far to go in recovering from the credit crisis, well-known analyst Meredith Whitney told CNBC...
...Whitney did say that she thought that the upcoming stress tests by the government for the banks could mean a grim time for the financials at the end of April, when the tests are concluded.
"After stress tests come out, you’ll see some banks that didn’t pass," said Whitney. "I don’t think we get out of the woods until mid 2010, but that doesn’t mean you can’t find a trading opportunity."
Among the other points Whitney made in the interview:
Banks' 1st-Quarter Results May Show Improvement: Whitney
Bank earnings may show some improvement in the first quarter, though the sector still has far to go in recovering from the credit crisis, well-known analyst Meredith Whitney told CNBC...
...Whitney did say that she thought that the upcoming stress tests by the government for the banks could mean a grim time for the financials at the end of April, when the tests are concluded.
"After stress tests come out, you’ll see some banks that didn’t pass," said Whitney. "I don’t think we get out of the woods until mid 2010, but that doesn’t mean you can’t find a trading opportunity."
Among the other points Whitney made in the interview:
- Peak to trough levels for home prices will be over 50 percent
- Liquidity continues to be drained from the system
- More consumers become stressed and unable to service debt burdens.