Here's a look at this morning's banking and finance news:
- Bank analyst Meredith Whitney predicted "hundreds of billions of dollars" of municipal defaults, investors fled the market - and banks cashed in. Bloomberg explains.
- U.S. stock futures dipped this morning as investors' anxiety over European debt continued, The Wall Street Journal reports.
- Applications for refinancing on home mortgages jumped last week, according to The Mortgage Bankers Association, Reuters reports.
- Fortune lays out the "best and worst" of Wall Street, with a nod to Bank of America CEO Brian Moynihan.
- The New York Times examines Wall Street's "odd couple" of private equity and public pensions, saying public pensions pay billions in fees to private equity.