“Several U.S. cities, such as Detroit and Stockton, Calif., have suffered severe financial crises, and more municipal troubles are likely on the way, says financial analyst and author Meredith Whitney, CEO of Meredith Whitney Advisory Group.
They could even hit Los Angeles, she tells Newsmax TV in an exclusive interview. “You know no one mentions L.A.,” she tells Newsmax TV in an exclusive interview.
“L.A. is one of the municipalities that’s not at risk of default, but at risk of real loggerheads in terms of how deeply do you cut into social services, and how much are you going to push down to localities.”
Watch our exclusive video….”
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