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Meredith Whitney: "This is the most bearish I've been in a year"


Here's the Meredith Whitney interview from CNBC earlier this week that has Jim Cramer so upset.

In fact, Cramer was so miffed by Whitney's bearishness that he called her "an embarrassment." in his most recent piece.

Even still, the markets did manage to peak yesterday when Whitney let on that she hasn't been this bearish in a year....

As usual, Meredith makes total sense.

By the way, According to a TransUnion report released today, 6.25% of all home loans are past due 60 days or more. That's up 58 percent from 3.96 percent a year ago.

What's more, TransUnion expects delinquency to rise to just short of 7 percent for the fourth quarter, compared with 4.6 percent for the 2008 fourth quarter.

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