Days before the government stepped in to rescue Fannie Mae and Freddie Mac, Knowledge@Wharton chatted with Mark Zandi, the chief economist and cofounder of what is now Moody's Economy.com, about his new book, Financial Shock: A 360-Degree Look at the Subprime Mortgage Explosion, and How to Avoid the Next Financial Crisis.
It amazes me how Mr. Zandi can easily say it was the wild wild west and how he had no idea that the lending practices had got so bad. I was under the impression that his company (Moodys)was one of the big rating agent for all these MBSs.
Vinay71 3 years ago