The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Pimco Privately Wages an 'All-Out War' Against Meredith Whitney, Reports Gasparino Not Rated 1.0 Email Routing List Email & Route  Print Print
Thursday, February 03, 2011

Pimco Privately Wages an 'All-Out War' Against Meredith Whitney, Reports Gasparino

News summary by MFWire's editors

Fox Business' Charlie Gasparino is reporting that Pimco, in meetings with brokers, has "launched an all-out war to discredit" research from analyst Meredith Whitney.

Pimco is said to be unhappy with Whitney, who in December appeared on CBS' 60 Minutes and warned of billions of dollars of defaults in the municipal-bond market. She sang the same tune in subsequent appearances.

"In the wake of Whitney's prediction....investors have sold their muni holdings in droves," reports Gasparino, adding that Pimco "has been hit particularly hard."

Pimco has waged a "toned-down" battle against Whitney in public, the report states, but in meetings with brokers, those selling Pimco's products have embarked on an "all-out" battle.

Citing an anonymous source, Gasparino reports that "a Pimco representative said that the money management firm has even obtained a copy of Whitney's report, and it 'wasn't worth the paper it was on.'"

The report being referred to is a research report Whitney wrote in September 2010 called "Tragedy of the Common; Launching Ratings on the Top 15 States." Pimco reportedly shelled out $10,000 to get the report.

That report did not have the predictions of 50 to 100 muni bond defaults that Whitney mentioned in her TV appearances.

Pimco spokesman Mark Porterfield declined to comment to Fox Business. 

Edited by: Armie Margaret Lee

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use