Whitney expects banks to cut dividends

02/20/2009 | NYTimes.com

Prominent banking analyst Meredith A. Whitney expects top banks to stop paying current dividends as the industry's struggles continue. "Most of the big banks would be lucky to break even or earn a little bit of money this year," said Whitney, who left Oppenheimer & Co. on Wednesday to start the Meredith Whitney Advisory Group. Of the banks discussed in the CNBC interview, Whitney was most bearish on Citigroup.

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