Neighbor vs. Neighbor

[Ben Leybovich]

Wondering if anyone has any thoughts about the recent interview by Meredith Whitney, about the only Wall Street analysts worth anything, on CNBC.

She talked about Detroit bankruptcy saying more is coming. She successfully predicted the crash and she was saying 6 months ago that municipalities are in deep trouble - hello Detroit.

Now she is predicting that it's going to be "neighbor vs. neighbor. Listen to the interview here. Thoughts?

http://www.cnbc.com/id/100911322

[Tom Goans]

Long ago, during the late 1970s as a real estate developer and investor, I experienced a really challenging time when inflation was double-digits with interest rates of 21 percent. Obtaining a loan was almost impossible because there was no money to be borrowed. Banks would pay a premium for jumbo Certificate of Deposits ($100,000 or greater).

Let's hope something of this nature does not return.