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pstuartb

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Re: ajtj99 post# 146825

Monday, 05/11/2009 4:34:41 PM

Monday, May 11, 2009 4:34:41 PM

Post# of 148479
A few comments by Meredith Whitney: 05/11 03:26 PM

"This is not the last time banks will be raising money

Banks' earnings in 2010-2011 will be far below consensus

Banks are raising money at above book multiples

Consumer spending will be lower than what people expect

Investors will see through banks' "manufactured earnings" over time

Do not see bottom for fundamentals and bank stocks

Financial stocks are grossly overvalued

Banks are sitting on rotting assets

Bank earnings will continue to be manufactured for a couple of quarters, but earnings quality will be very low"

Link to the CNBC interview:

http://www.cnbc.com/id/15840232?video=1120084432&play=1
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