Banking analyst Meredith Whitney is interviewed for FT.com's "View from the Markets" video series. Parts one, two, three, and four.
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.