The Epic Rise And Potential Fall Of Meredith Whitney

Whitney — who gained national attention during the financial crisis for correctly predicting that Citigroup would have to cut dividends due to capital concerns — is down to just one full-time staffer at her eponymous advisory firm.

The Wall Street Journal recently reported Meredith Whitney Advisory Group has lost half its clients in addition to shrinking from five full-time investment professionals to one in the past two years.

Just a few years ago Wall Street was hanging on her every word. Not anymore. Whitney's new book "The Fate of the States: the New Geography of American Prosperity" calls that state municipal bonds are about to collapse, a prediction that has yet to materialize.

It may be a rough patch for Whitney, but once you know where she came from, you probably won't count her out.

Myles Meserve contributed reporting.