Meredith Whitney shot to fame in late 2007 when on a single conference call she had the stones to call out Citigroup for having much more serious problems in its asset portfolio than the company was admitting.
She was correct of course. Roughly a year later these problems came home to roost with Citigroup being on the receiving end of tens of billions of dollars of bailout money from the government, and shareholders being diluted massively.
Now Whitney says the clock is ticking for California, Illinois and other U.S. states to get their fiscal houses in order. She discusses what troubled states can learn from Texas, Indiana and others in a conversation with Steve Forbes.
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