Video: Meredith Whitney on the next financial crisis: State / Local governments; she still hates the banks

Meredith Whitney appeared on CNBC on 9/28/10 to discuss what she considers the next big systematic risk mess.  She says that the financial crisis facing state and local governments reminds her of the banks pre-financial crisis.  And she’s still down on the banks.  She’s hard pressed to find one she’d be long.  Her only long recommendations were Mastercard and Visa.

She’s looking for more layoffs on Wall Street; during her last CNBC visit, she said that she expected 80K cuts starting this quarter and inter the first quarter of next year.

Tags: Banks, bonuses, Compensation, Layoffs, meltdowns, Meredith Whitney, Revolving Door, State Governments, systematic risk, Video