The Abysmal Track Record of Moody’s Mark Zandi
24th September 2010
Mark Zandi of Moody’s Economy.com is routinely trotted out as an independent expert. He was the sole economist at the August 17 Treasury Conference on the Future of Housing Finance, the Fed’s REO and Vacant Properties conference and has now testified at the September 22nd Senate Budget Committee hearing on “Assessing the Federal Policy Response to the Economic Crisis”.
Never mind that, based on Zandi’s record, either his analysis is just wrong or his independence is compromised. Everyone seems to like to hear the guy who is saying what people want to hear, even the press appears to prefer “feel good” analysis to considering the accuracy of his record.
Moral: Just because someone is touted as an ‘expert’, even with impressive credentials, doesn’t mean he knows his ass from a hole in the ground.