Mrs. Whitney Goes To Washington?

Congress wants to speak to Meredith Whitney about the municipal bond market, but for right now, she isn't biting.

Congressman Patrick McHenry, (R-NC) wants the president of the Meredith Whitney Advisory Group
to appear before the subcommittee he's launched to discuss what she had to say on "60 minutes," where she said she sees the potential of 50-100 defaults throughout the country. McHenry told FOX Business the subcommittee called Whitney to get to the bottom of the debate. “We want her to fill out her views one way or another,” he said.

McHenry has launched an investigation to see whether states should be allowed to declare bankruptcy to get rid of their financial burdens, such as pension obligations and massive debt repayments.

The subcommittee wants to see whether Whitney's call was actually valid or not, but for right now, Whitney isn't going to appear. There has been talk that the subcommittee would subpoena her for her report on municipal bonds.

Whitney has received a lot of criticism from the report, especially after a large number of retail investors were scared after the 60 Minutes report back in December.

The hearing is scheduled on February 9.