Friday, August 28, 2009

Update on my over/under bank failure challenge to Meredith Whitney:

I publicly challenged Meredith Whitney to a bet on her call that 300 banks would fail before this crisis is over. I offered to give her 310 and I would take the over.  I offer the same to that pathetic, faux-analyst Dick Bove.  I'm still waiting for Meredith to contact me on my offer.

Former North Fork CEO, John Kanas, was on CNBC saying that there would be ANOTHER 1,000 bank failures, which would put the total over 1,000.  As a speculator, would you bet on an industry insider like Kanas, or would you put your money on Wall Street pimps like Whitney and Bove?  Here's a link to Kanas' interview:

Is the real number 300 or 1,000?

My inclination would be to still wager on over 1,000 failures, but it certainly makes it seem more like an even-money propostion.  How 'bout it, Meredith?


  1. I'll go under 1000 but definitely over 300. My best educated guess is 786 before the smoke clears.

  2. I would not hold my breathe waiting for a taker on your bet.

    P.S. great gap up today in both silver and gold. I think the stories highlighting the Swiss going to negative interest rates and other countries wanting to follow suit may have had a hand in the action.

  3. Rodd, you're done on a 1000 over/under. What ya wanna wager?

  4. Meredith Whitney is on the line to WFC and then she has calls from BOA, C and uber whore, GS. Oh, and JPM could speed dial her at anytime. Busy, busy, busy.