#shorts Kennedy: Moody’s graded mortgage-backed securities AAA that tanked & dragged down the world economy
Kennedy: Dr. Zandi, I have to ask you this. You made some pretty bold predictions today, and some of them I agree with and some of them I don’t. But were you at Moody’s in the mid-2000s when Moody’s graded a lot of these mortgage-backed securities AAA, and “good as gold,” that promptly tanked and almost dragged down the world economy? Were you there then?

Zandi: No, I saw that. It was before my time. I sold my company to Moody’s in late ’05.
Kennedy: I’m glad you missed that. Yeah, if you were there, I hope… Let me ask you, and actually
Zandi: if you’re interested, I can send you a couple studies I did every time.
Kennedy: That would be great. I wish Moody’s had them then.

On 5/4/2023, The United States Senate Committee on the Budget held a hearing on the Republican debt limit bill passed in the House. Witnesses include Mark Zandi, Chief Economist at Moody’s Analytics; Abigail Ross Hopper, President and CEO of Solar Energy Industries Associations; Brian Riedl, Senior Fellow at Manhattan Institute. They testified before the Senate Budget Committee as the panel holds a hearing on the Republican proposal to address the debt limit, which passed in the House last week, at the Capitol in Washington.

other clips of this published longer video is here: https://youtu.be/zTAfR-eN00I
Kennedy: Moody’s graded mortgage-backed securities AAA that tanked & dragged down world economy.