'50 to 100 Sizable Defaults'
Meredith Whitney on 60 Minutes: '50 to 100 Sizable' Municipal Bond Defaults Coming. Cities Pay Up
Banking analyst Meredith Whitney told 60 Minutes in December 2010 to expect a wave of municipal defaults within a year. The wave was a ripple.
What was said
“There is not a doubt in my mind that you will see a spate of municipal bond defaults. You could see 50 to 100 sizable defaults, maybe more.”
— Meredith Whitney, banking analyst (CBS 60 Minutes) · said Dec 19, 2010 · due within 12 months (by December 2011)
By September 2011, defaults so far that year came to 0.03% of municipal debt outstanding. No spate arrived.
The Story
Broadcast Sunday, December 19, 2010; Fortune reported she expected the defaults within the next 12 months. 'Could see 50 to 100' is softer, but 'not a doubt in my mind' about a spate of defaults is not a hedge.
Receipts
- Stop panicking over muni defaults - Fortune (December 22, 2010)accessed 2026-09-29
- Time's Up: Meredith Whitney Muni Prediction Was Wrong - CNBC (September 27, 2011)accessed 2026-09-29
As of Oct 9, 2026
since it didn't happen
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