Meredith Whitney, founder and CEO of the Meredith Whitney Advisory Group, discusses financials and the state of the credit market on CNBC. Two things I appreciate about Whitney are her ability to explain the interconnection of banks, credit, housing and the economy in a common sense way; and the fact is that she is now given lenghthy time for her interviews which allows for a fuller explanation of her thoughts.

Bottom line:

Nothing fundamentally has changed with the banks. The government intervention has just kicked the can down the road. She expects another major leg down in the stock market:




And "There's no doubt that home prices go down dramatically from here.":