Today Citigroup analysts have downgraded Oppenheimer's Meredith Whitney from "accumulate" to "hold" and have put her on "negative watch". Citi's analysts believe that Whitney is in danger of becoming a one trick pony with the whole, "Bank writedown thing." Citi stated, "Eventually we, along with our banking brethren will stop fumbling and bumbling and put together a winning quarter, or at least a flat quarter. Where will Ms. Smarty Pants be then?"
Upon hearing the news, Whitney laughed and immediately increased her estimate of Citi's second-quarter writedowns from an arbitrary $12.2 billion to $14.4 billion.
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