Financial Analyst Predicts More Wall St. Layoffs
By Ben Fractenberg
MANHATTAN — It’s going to be a rough new year for Wall Street, at least according to one bank analyst.
Forecaster Meredith Whitney, who reportedly predicted the banking crisis as early as 2007, said the financial sector could lose as much as 80,000 by early 2012, the New York Post reported Tuesday.
"Over the next 18 months, Wall Street will go through yet another iteration of resizing not seen since the post-dot com era," Whitney was said by the Post to have told clients of her firm Meredith Whitney Advisory Group.
Whitney blames the struggling economies in Europe and American, which she said accounts for 80 percent of US bank revenue.