Wall Street "star" Meredith Whitney blows up and is back giving interviews to Fox News.

"Famed" Wall Street, "star" Meredith Whitney is back to where she started--with nothing, and doing interviews with Fox Business after she swore she'd never go on Fox again. (She considered Fox to be too lowly a network for her highly important stature.)

Say what you want, but I guess this proves what I said right from the very start: that this woman's fame always befuddled me. I worked alongside her for years at Fox News, where she was a business contributor, like me, and never found anything she said to be all that insightful or intelligent. For sure I don't think she had much of a grasp on the markets or, the economy.

I remember back in 2009 when the fiscal stimulus was announced, she said it wouldn't do much because it was a "hodgepodge." (A fucking hodgepodge? Seriously? And she was already big-time famous by then.)

Even the whole, Citi "call," seemed like a sham to me, too. Fadel Gheit, who is an Oppenheimer (where Whitney worked) Managing Director and senior oil and gas analyst once told me that Whitney ripped off that call from her former boss.

Anyway, the media went crazy over her and that made her a star and rich, but then she proceeded to fall flat on her face with a series of blunderous calls. (More hodgepodges, I guess.)

It wasn't long before her research firm had to close its doors because of client defections. At one point she even had John Paulson as a client. Remember Paulson? The obscure money manager who nobody knew for years, but then he rocketed to massive fame and fortune with that rigged, subprime trade that Goldman structured, which was ultimately deemed an exercise in fraud?

Did Whitney also advise Paulson to buy gold? Remember that one, too? Paulson thought that ZIRP and QE would lead to hyperinflation. The "genius" was just another Schiff. Only richer.

There were other terrible calls, too. Like the one where she said that hundreds of municipalities were going to go bankrupt.

When her research firm closed, she moved to Bermuda and started a hedge fund and got some other hedge fund clown to "gift her" $50 million in seed capital, which she proceeded to blow out. Finally the guy couldn't take it anymore and sued to get his money back, but only after she refused to return it.

Wow. You can't make this shit up even if you were writing a script for some crappy Hollywood B movie.

The funniest thing about Whitney, though, is how she married this gung-ho 'murica, cowboy-wrestler, John Layfield, who still, I think, is a regular on Fox's Saturday morning business block. As an aside, you gotta love that about Fox News...they don't give a shit who they put up there as long as it helps ratings. Do you believe anyone would take investment advice from this dude?

And now she, too, is back giving interviews at Fox. Oh, how the mighty have fallen. (Some of them, anyway.)

P.S. There's a lot more about Whitney that we posted up over the years right here on MNE. Check it out.