Meredith Whitney — American Businesswoman born on November 20, 1969,

Meredith Ann Whitney was born November 20, 1969, and grew up in New Jersey. She is best known for successfully forecasting the difficulties of Citigroup and other major banks during the financial crisis of 2007–08, and then for predicting in 2010 the still-unrealized default of US municipal bonds totaling hundreds of billions of dollars... (wikipedia)

At a certain point, you can't tax people beyond a certain level.
You're either making money or you're not. If you're not making money get out of the business.
There are great municipal investments out there, but on a blanket basis you have to be really careful about knowing what cash flows are supporting your investments.
People knew that Murdoch's media estate in the UK was too powerful and it was doing very unpleasant things.
You can make great money in a utility type of business by borrowing cheaply and lending sensibly but that's not what's being done.