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Moody's Mark Zandi Set To Head Fannie, Freddie

Tyler Durden's picture




 

Ever since Moody's head economist Mark Zandi, together with Princeton's Alan Blinder, authored a paper in July 2010 titled "How We Ended The Great Recession" (which incidentally is wrong on two key counts: i) it is a great depression not recession, and ii) it has not ended as three years later and $5 trillion in extra central bank liquidity the economy is in worse shape now than it was then), it became clear that the Keynesian sycophant would not rest until he somehow found a way to penetrate deep inside one or more of the darkest administrative orifices of the Obama regime. Surely, Zandi must have been heartbroken when it was not him but Jack Lew picked to replace Tim Geithner - a post the Keynesian had a desperate craving for.

Yet his recent appointment to head up the ADP "payroll" joint venture, which was nothing more than a test of his propaganda skills, should have given us advance notice something was cooking.

Further notice should have emerged when the US Department of Injustice launched its rating agency witch-hunt campaign only against S&P, not Moody's, where the abovementioned Zandi still officially works. Last night all of this finally fell into place, when the WSJ reported that Zandi has emerged as the leading candidate to head the FHFA - the regulator in charge of the two zombiest of zombie US institutions: the still insolvent Fannie and Freddie, in the process kicking out current FHFA head Ed DeMarco who recently emerged as Obama's persona non grata number 1 for his stern refusal to espouse socialist practices and wholesale debt forgiveness and principal reduction.

From the WSJ:

Mark Zandi, a prominent economist, has emerged as a leading candidate to head the regulator of mortgage-finance companies Fannie Mae and Freddie Mac amid signs that he would likely attract support from Senate Republicans, according to people familiar with the matter.

 

The FHFA director has become an increasingly important economic-policy position in Washington, because the agency serves as the warden of Fannie and Freddie, which own or guarantee half of all the nation's mortgages.

 

Mr. Zandi, co-founder of an economic-forecasting firm that was purchased by Moody's Corp. in 2005, serves as chief economist of Moody's Analytics. A registered Democrat, he was an economic adviser to the 2008 presidential campaign of Sen. John McCain (R., Ariz.). He speaks frequently on the economy, fiscal issues and housing—testifying before Congress at least nine times in the last two years—and played a key role advising congressional Democrats on the 2009 economic-stimulus bill.

 

The FHFA's current director, Edward DeMarco, took the job four years ago in an acting capacity after his predecessor left for the private sector. Mr. DeMarco has at times clashed with the Obama administration over homeowner aid, and left-leaning groups have campaigned to replace him. The agency, created five years ago, has never had its own director confirmed by the Senate because of Republican opposition to an earlier nomination.

Why is Zandi acceptable to both the left and the right? Because the Wall Street puppetmasters behind America's politicians love him for his policies which will merely perpetuate the interests of Wall Street by not even remotely daring to rock the boat.

Mr. Zandi has attracted attention, in part, because he may have a good chance at winning Senate confirmation. Senate Republicans have largely supported Mr. DeMarco and are expected to scrutinize his successor closely. But Mr. Zandi may placate these critics.

 

Sen. Bob Corker (R., Tenn.), who serves on the Senate Banking Committee, said in a written statement Friday: "If Mark Zandi and the administration have an acceptable plan to transition us away from our dependence on [Fannie and Freddie], I'm optimistic that he could do a good job helping our country effectively execute that plan while also protecting the taxpayer."

What happens when Zandi takes over Fannie and Freddie? Nothing but 4 more years of living mortgage free for all those who bought homes at the peak of the housing market and are still tens of thousands of dollars underwater on their mortgages.

Replacing Mr. DeMarco could give the administration greater latitude to expand initiatives to help homeowners facing foreclosure and to mediate disputes over when banks should be forced to "buy back" defaulted mortgages, which some policy makers fret has kept credit standards too tight. But people familiar with the process have said that the Obama administration's push to fill the FHFA position has less to do with specific policy flare-ups and more to do with its desire to have a permanent director oversee the process of overhauling Fannie and Freddie.

Which begs the question: why does anyone still pay their mortgage in the US? It's not like the US banks need the money - after all they are drowning in fungible liquidity courtesy of the Fed and its nearly $2 trillion in excess reserves, they mark any and all non-performing mortgages on their balance sheets to whatever mythical price they want, and nobody dares to ask any questions because it would collapse the entire house of cards for everyone involved. As for the US consumers still paying mortgages, this is hundreds of billions in dollars that could be redirected away from paying banks into much more important purchases: like iGizmos, or whatever the next iteration of "cool" purchases is now that Apple is so 2012, or in other words, helping funds the Chinese trade balance and boosting China's GDP.

In fact, while we are here, why pay taxes? With the Fed funding about half of the annual US deficit and rising, is there any other point to pretending the country even needs taxes to operate aside from fanning the flames of class warfare and scapegoating those who are evil enough to be rich based on whatever Obama's daily definition of "rich" and "fair" may be?

 

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Sat, 04/13/2013 - 10:49 | 3444427 Eireann go Brach
Eireann go Brach's picture

Fucking weasel!

Sat, 04/13/2013 - 10:54 | 3444431 prains
prains's picture

 why does anyone still pay their mortgage in the US?

 

because; "what will the neighbors say?"

Sat, 04/13/2013 - 10:59 | 3444437 Abraxas
Abraxas's picture

 

I think what Mr. weasel wanted to say with the title is “How we ended the great recession and created a super hyper-inflationary depression”. Sorry, I didn't want to spoil the ending for you.

 

Sat, 04/13/2013 - 11:03 | 3444444 flacon
flacon's picture

No new blood? Just recycle the same players around and around? Incest never felt so good - government/bankers/rating agencies. When are we going to start seeing genetic defects emerging from their primordial soup? It's King Henry the VIII all over again - can't even give birth to a normal human being. 

Sat, 04/13/2013 - 11:11 | 3444457 redpill
redpill's picture

Does this mean forecasts from Moody's Analytics will become less ridiculous?

Sat, 04/13/2013 - 11:13 | 3444459 toys for tits
toys for tits's picture

Weekend Tyler is on Fire!!!

Sat, 04/13/2013 - 11:17 | 3444464 Mae Kadoodie
Mae Kadoodie's picture

What next, Steve Liesman replaces Ben Bernanke to run the Fed?

Sat, 04/13/2013 - 13:22 | 3444721 Arius
Arius's picture

you know better be careful what you wish for ... you might be into something.  After all, Bernanke was not what he is today when he started.

Sat, 04/13/2013 - 11:17 | 3444467 DoChenRollingBearing
DoChenRollingBearing's picture

suck, nibble, dribble

suck, nibble, dribble

suck, nibble, dribble

suck, nibble, dribble

suck, nibble, dribble

 

Or is that just being mean?

Sat, 04/13/2013 - 11:23 | 3444475 butchee
butchee's picture

What do you mean, mean?  Hardly.....

Sat, 04/13/2013 - 12:37 | 3444624 jekyll island
jekyll island's picture

Yeah, I kinda surprised Jimmy Johnson didn't want come out of retirement for a second tour as CEO. Maybe he'd get another book out of the deal.

Sat, 04/13/2013 - 14:24 | 3444701 YHC-FTSE
YHC-FTSE's picture

Incest often reinforces recessive characteristics. What we call recessives: Greed, delusion, megalomania, and compulsive lying have become the dominant characteristics of those who keep swapping chairs in government/banks/rating agencies. 

The really sad thing is people who try to copy these defects to be more like their overlords. Spouting crap about the virtues of selfish behaviour, and alpha male theory. Reminds me of peasants cutting their own lips open to look more like their hair-lipped, chinless landlords. 

Edit: Just noticed. Should be Harelipped, not hair-lipped. :)

Sat, 04/13/2013 - 11:00 | 3444442 prains
prains's picture

edit:

 

the american gov't is applying "reverse Darwinism" to its people and #winning, unfortunately, but time is running out 

Sat, 04/13/2013 - 11:23 | 3444473 Temporalist
Temporalist's picture

@prains

"what will the neighbors say?"

The neighbors will say "Why are we still paying our mortgage when our neighbor hasn't paid in 3 years and has been living there for free?"

Sat, 04/13/2013 - 11:45 | 3444511 prains
prains's picture

that's a team concept, I thought we were trying to perfect individualism, LoL

Sat, 04/13/2013 - 11:06 | 3444448 Jayda1850
Jayda1850's picture

Atleast I wont have to see his bitch ass on CNBS on jobs friday anymore, making BS prediction about BS numbers. Wonder who they will fill in with on their circle jerk.

Sat, 04/13/2013 - 11:07 | 3444452 Abraxas
Abraxas's picture

Why do you have a criminal whose ideology made all of this possible as your avatar?

Sat, 04/13/2013 - 12:28 | 3444602 Jayda1850
Jayda1850's picture

I don't agree with alot of Friedman's views. However, I was born in the early 80's and his TV appearances, especially his special with Phil Donahue, opened my eyes to an alternative view of economics than I was hearing on the news nd at school. So I will always be grateful to Friedman for informing me of a different view.

Sat, 04/13/2013 - 12:10 | 3444558 Kaiser Sousa
Kaiser Sousa's picture

well put...

Sat, 04/13/2013 - 12:50 | 3444654 Clayton Bigsby
Clayton Bigsby's picture

This fucking buttclown has been auditioning for the job for at least a couple of years now. He's perfect - full of shit enough to say whatever the administration wants him to say...

Sat, 04/13/2013 - 10:54 | 3444432 Pool Shark
Pool Shark's picture

 

 

Yep. It's a small, elite club.

And, you're not a member...

 

Sat, 04/13/2013 - 12:57 | 3444666 TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Yep. It's a small, elite club.

And, you're not a member...

...or an elite club with big heads and small members.

Further notice should have emerged when the US Department of Injustice launched its rating agency witch-hunt campaign only against S&P, not Moody's, where the abovementioned Zandi still officially works.

When Eric Holder is holding your balls, you are exempt from the inconvenience of legalities.

Sat, 04/13/2013 - 11:08 | 3444453 chunga
chunga's picture

A brief history on FNMA...

 

FRANKLIN RAINES [D] – FNMA CEO (1999 – 2004) Raines accepted “early retirement” from his CEO position while the SEC pretended to investigate accounting irregularities. Fannie’s own OHFHEO also accused him of abetting widespread accounting errors, including the shifting of losses, so he and his fellow execs could “earn” large bonuses. The WSJ reported back in 2008 that Raines was one of several cronies that received below market rates for mortgages from Countrywide. Raines alone received loans for over $3 million while CEO of FNMA. Raines’ compensation for his “work” at FNMA - $90 million.

RAINES GRADE – F

DANIEL MUDD [R] – FNMA CEO (2005 – 2008) Before becoming CEO of FNMA, Mudd worked at the Office of the Secretary of Defense, was an advisor to Asia-Pacific Economic Corp., “served” on the board of the Council of Foreign Relations, “consulted” at the World Bank, and held many positions at GE Capital including president and CEO. Mudd was dismissed as CEO of FNMA when FHFA became conservator in 2008. In 2011 Mudd and other GSE execs were charged by SEC with securities fraud. After his career at FNMA Mudd became CEO of a NYC hedge fund named “Fortress”. Fortress invested in purchasing tax liens on delinquent property taxes from local governments under many benign corporate names such as “Pleasant Valley Capital” and “Travis Farm Investments”. Cozy. Mudd’s compensation for his “work” at FNMA - $80 million.

MUDD GRADE – F

 NEEL KASHKARI [R] – FNMA CEO (Tenure is murky) Kashkari was a former investment banker for Goldman Sachs, was tapped by Hank “The Shank” Paulson to lend his skills over at TARP HQ, and now rather ironically, continues God’s work as a Managing Director at PIMCO. Kashkari’s compensation for his “work” at FNMA is also murky; I’ll just assume it was too much.

KASHKARI GRADE - F

HERB ALLISON [D] – FNMA CEO (2008 – 2009) The esteemed Mr. Allison was quickly whisked off to oversee the wildly successful TARP program. I didn’t find much on his compensation during his brief stint as FNMA CEO. Allison served in various positions at Merrill Lynch and became a member of the board in 1997. He was a director of the NYSE from 2003 – 2005.

ALLISON GRADE – F

MICHAEL WILLIAMS [?] – FNMA CEO (2009 – Jan 1, 2012) Mr. Williams is a 20 year veteran at FNMA. While “serving” as FNMA CEO, Williams managed to scrape by on less than $6 million in 2011 alone. This could and should be considered a hardship, given the complexities involved in purloining ~ $60 billion of Fed bailout money.

WILLIAMS GRADE – F

FANNIE’S MAJOR DANCE PARTNER, FREDDIE MAC, HAS ALSO PERFORMED VERY POORLY.

Charles (my friends call me “Ed”) Haldeman has announced his retirement plans but intends to be a good sport and stay on with insolvent FHLMC until another crony can be found to fill his wing-tips.

That might take a while. “Serving” as CEO of the ultimate backstops for the lion’s share of the MBS Ponzi is very stressful.

We’ll have to accept former Freddie exec David Kellermann’s testimony posthumously. Mr. Kellermann was found hanging by the neck in the basement of his posh Vienna, VA home in the affluent suburb of Washington. D.C. way back in April of 2009. It is presumed he had no help and local police have stated there was no evidence of foul play.

 

Sat, 04/13/2013 - 11:24 | 3444474 toys for tits
toys for tits's picture

 

The FHFA director has become an increasingly important economic-policy position in Washington, because the agency serves as the warden of Fannie and Freddie, which own or guarantee half of all the nation's mortgages.

What is the point of having entities that are guaranteeing half of the mortgages when the Fed is buying more than half every month anyway? If someone defaults the government pays itself? Is this more of the same retarded redundant expensive bullshit?

 

 

Sat, 04/13/2013 - 11:30 | 3444486 chunga
chunga's picture

Given the history of these incestuous cronies; I'd say yes. Just more retarded bullshit.

(As always, no offense intended for normal, regular retards)

Sat, 04/13/2013 - 11:08 | 3444454 Kaiser Sousa
Kaiser Sousa's picture

Mark Fucking Panzi....

i hate the lying ass mother fucking wall street fucking bank worshipin mother fucker.....

Sat, 04/13/2013 - 11:11 | 3444455 Motorhead
Motorhead's picture

Douchebaggus maximus.

Sat, 04/13/2013 - 11:15 | 3444458 Lucius Corneliu...
Lucius Cornelius Sulla's picture

Class warfare?  Give me a break!  We all know that Obama reports to Jamie and Lloyd.  Don't fool yourself, they will protect the MBS securities to the end because that is what TBTF needs and that is what the 1%ers want.  The deadbeads squatting in foreclosed homes are just an inconvenient result of unintended consequences who I consider rather clever.  After all, they are really no different than the banksters who rape savers and taxpayers on a daily basis.  It's a match made in heaven!

Sat, 04/13/2013 - 11:25 | 3444482 Abraxas
Abraxas's picture

Hail Lucius! You hit the nail on the head with this comment. Class warfare is just another distraction by the criminals and their associates in the MSM.

Sat, 04/13/2013 - 11:43 | 3444490 Lucius Corneliu...
Lucius Cornelius Sulla's picture

Lehman was part of the plan just as placing Hank Paulson where he was in order to consolidate Jamie and Lloyds power in the banking cartel.  Never let a "crisis" go to waste!  Don't fool yourself; this was scripted, rehearsed and executed brilliantly.  These guys make the Mafia look like amateur hour.  Anybody who does not realize that a criminal gang runs Wall Street and the USG is totally delusional, brainwashed, ignorant, stupid or all of the above.

Sat, 04/13/2013 - 11:14 | 3444461 ebworthen
ebworthen's picture

What?  The government is putting one of their "top men" in the job before he has found The Ark Of The Covenant?

Sat, 04/13/2013 - 11:17 | 3444465 Kaiser Sousa
Kaiser Sousa's picture

"In fact, while we are here, why pay taxes? "

i aint paying the fucking bankers Jack Mother Fucking SHIT!!!!

taxation + illegitimate representation = FUCK YOU BERNANKE!

Sat, 04/13/2013 - 11:21 | 3444471 rlouis
rlouis's picture

So, the only FNMA/FHLMC officer that served with distinction was the one who offed-himself.  Or maybe he was offed for threatening to spill beans.   Regardless, that's still a pretty low level to set the bar.

Sat, 04/13/2013 - 11:24 | 3444476 Never One Roach
Never One Roach's picture

mortgage?....what's that?

 

That's filed in the, "Ok Not To Pay" file.

 

I forgot I had one.

Sat, 04/13/2013 - 11:23 | 3444477 LoneStarHog
LoneStarHog's picture

When Obozo needs another WHORE and the entire alphabet has been used, there is the biggest one at the end.

Sat, 04/13/2013 - 11:26 | 3444479 Brokenarrow
Brokenarrow's picture

I looked at Fri's close and thought:"one good thing is that it can't get anymore crooked than this...."

It can and it will.

I'm closing out all brokerage accounts. I'm done. I'm not an elite. I'd done gambling at the crooked casino.

Sat, 04/13/2013 - 11:35 | 3444489 Abraxas
Abraxas's picture

I wish I could do the same (close the accounts) without admitting that I've lost a small fortune on the PM miners. My Ego does not bear it well (even though it's Him who made me invest so foolishly).

Sat, 04/13/2013 - 12:44 | 3444635 jekyll island
jekyll island's picture

I'm with you my brother. Don't even want to look at my returns on Jr. Miners but I consider them another layer of insurance that just might pay off if Owebama would just get around to cratering the economy.

Sat, 04/13/2013 - 11:24 | 3444480 The Abstraction...
The Abstraction of Justice's picture

Zandi and Gandhi, both puppet whores.

Sat, 04/13/2013 - 11:37 | 3444496 world_debt_slave
world_debt_slave's picture

Whatever happened to ex-fannie ceo franklin raines? Oh, that's right, he was exonerated for his crimes.

Sat, 04/13/2013 - 11:38 | 3444498 Jim B
Jim B's picture

He is probably hanging out with the Jon Corzine.....  Has Corzine been exonerated yet?

Sat, 04/13/2013 - 11:45 | 3444510 Abraxas
Abraxas's picture

He is probably the one in charge of the exoneration process.

Sat, 04/13/2013 - 11:41 | 3444502 Downtoolong
Downtoolong's picture

Someone has to make sure all those MBS the Fed is paying top dollar for get properly rated AAA+++. Who better than someone with ties to Moody's?

"The inner circle must remain intact, and the boundaries must be fortified. We’ll add another three feet and row of razor wire to the fence if we have to. We can’t risk involving anyone who might challenge our plan." 

Sat, 04/13/2013 - 11:46 | 3444507 FieldingMellish
FieldingMellish's picture

Putting the fox in charge of the disease-ridden henhouse?

Sat, 04/13/2013 - 11:57 | 3444524 The Dancer
The Dancer's picture

Class warfare is just another way of saying "divide & conquer"...now, triangulation = Let the Mexicans/Latinos in and "voila"....pit the blacks, whites, browns against each other to cause chaos and "voila"....distractions galore while they rape and pillage the good working people....

I struck the word "fair" from my dictionary long ago....these same kind of bastards put both my mother and father in their graves way too early...they worked themselves to death trying to raise up the kids the right and honest way....life is not what ya want it ti be; it is what it is...no more or less....the SOBs have no "human-heartedness", the word that Confucius used to describe that special quality that some have that make them truly beneficial to us all... 

Sat, 04/13/2013 - 12:34 | 3444622 earleflorida
earleflorida's picture

WoW!!!

"human-heartedness"

Bravo :-))

*burned into the grey matter the second it pierced my ears...

Sat, 04/13/2013 - 13:08 | 3444687 dataanalytics
dataanalytics's picture

Dandy-Zandi Globalist extraordinaire... SCUMBAG.

Sun, 04/14/2013 - 13:16 | 3446775 yogibear
yogibear's picture

A true Bernanke and the Fed bootlicker.

Goes along with Wall Street flow. Another Jeremy Segal.

A male version of Abby Joseph Cohen.

No critical thinking or original though with Zandi.

Sat, 04/13/2013 - 13:29 | 3444747 The Dancer
The Dancer's picture

Yes, I do love that word...human-heartedness...I lived with a Chinese woman for 2 years in Thailand...they are pretty sharp cookies...but all too often they too closely resemble their Occidental other half(for the edification of some, the Chinese are sometimes called the Jew of the Orient...I won't repeat this anymore as I'm sure it bores some folks...btw, I was told this by a Jewish guy from Pennsylvania who lived in bangkok)lol lol...I have Confucius's full definition of the term in one of my manilla folders, if you can't fin it through search engines...holler at me sometimes to remind me...I really respect his approach to life

Sat, 04/13/2013 - 14:13 | 3444838 JR
JR's picture

The revolving door that leads deeper into economic Armageddon continues.

It was in late 2010 that “Zandi declared that thanks to the fiscal stimulus, ‘The economy has made enormous progress since early 2009.’"

And it’s been downhill from there, and, now, Zandi, with his Keynesian philosophy is the likely candidate to team up with Fannie and Freddie.

Neither side of this no-think economics establishment has “a policy response for economic Armageddon, assuming they are even capable of recognizing it” – neither the Keynesian government-deficit-spending-is-needed-to-lift-the-economy-out-of-recession view nor the 'fiscal consolidation' (the new term for austerity) “let-them-eat-cake school view.

And who should know better than he who said it, Economist Paul Craig Roberts in DEATH BY GLOBALISM.

Economists who have spent their professional lives rationalizing “globalism” as good for America have no idea of the disaster that they have wrought, says Roberts.

But in the comfort of their cushioned Keynesian ivory towers, both Zandi and Princeton Keynesian economics professor Paul Krugman miss the evidence shielded from their eyes down on Main.

“Neither side in ‘The Great Stimulus Debate’ has a clue that the problem for the U.S. is that a large chunk of U.S. GDP and the jobs, incomes, and careers associated with it, have been moved offshore and given to Chinese, Indians, and others with low wage rates. Profits have soared on Wall Street, while job prospects for the middle class have been eliminated.”

None of these irrelevant dinosaurs recognize that the stock market is built primarily upon psychology and the economy is built primarily upon production growth.

Thus, they missed the truth, that “when the jobs have been shipped overseas, fiscal stimulus does not call workers back to work in order to meet the rising consumer demand. If fiscal stimulus has any effect, it stimulates employment in China and India.”

The truth behind offshore production, as Roberts has often said, is there’s no free trade, there’s no any kind of trade; it’s just labor arbitrage.

 “[T]he offshoring of American jobs resulted from (1) Wall Street pressures for ‘higher shareholder returns,’ that is, for more profits, and from (2) no-think economists, such as the ones engaged in the debate over fiscal stimulus, who mistakenly associated globalism with free trade instead of with its antithesis--the pursuit of lowest factor cost abroad or absolute advantage, the opposite of comparative advantage, which is the basis for free trade theory. Even Krugman, who has some credentials as a trade theorist has fallen for the equation of globalism with free trade.” …

The reason fiscal stimulus cannot rescue the U.S. economy has nothing to do with the difference between Harvard economics professor Robert Barro’s let-the-eat-cake austerity and Zandi’s fiscal stimulus spending. “It has to do with the fact that a large percentage of high-productivity, high-value-added jobs and the middle class incomes and careers associated with them have been given to foreigners.

“What used to be U.S. GDP is now Chinese, Indian, and other country GDP.”

http://www.counterpunch.org/roberts09012010.html

Note: “Zandi's analysis of the impact of an economic stimulus package on the United States economy was cited by Christina Romer and Jared Bernstein in their report on President Barack Obama's proposed American Recovery and Reinvestment Plan, which became the American Recovery and Reinvestment Act of 2009. (Wikipedia)

Sat, 04/13/2013 - 14:22 | 3444866 Anasteus
Anasteus's picture

"Zandi must have been heartbroken when it was not him but Jack Lew picked to replace Tim Geithner..."

Nah, the US Treasury is too important position to be led by goy puppet; poor Zandi apparently didn't grasp where his limits were. Funny & Freddie, or some other insolvent business is ok, but the Treasury?? The key financial points, particularly now during the hectic period, are reserved solely for orthodox agents. Lack Jew is fine.

Sat, 04/13/2013 - 14:34 | 3444894 newworldorder
newworldorder's picture

I get the urge to throw up every time I see this weasel in any media format. Since this is not possible, I immediatly shut that media off.

Do you get the fealing that this administration goes out of its way to piss off those Americans who have a clue on whats going on in the current economy,by appointing economic hacks to importand positions?

Sat, 04/13/2013 - 14:33 | 3444898 The Dancer
The Dancer's picture

Look, that 's exactly what they want...at least that's what they think that they want....the plan is to get them stuck to the tar-baby....remember the children's story....with Brer Rabbit and Uncle Remus...well, now China is stuck good to the export tar baby....with perhaps more debt/loans out there than any of us truly know about...several people within  inside info, like Soros,etc. think it could all explode in their faces, the debt bubble, that is...and Russia is hooked on the need to export it's crude at a minimum level of around $80...what happens when, not if, that drops to $50-60US...their economy collapses.....and the Chinese, who will they export to....not going to be fun over there when this all comes tumbling down...but the point is that they will be beholding to the man behind the curtain...just like the rest of us....one financial system, one world order, and limited rights for all us individuals...that's why I'm getting it all done now before the shtf...good luck all...

 

Sat, 04/13/2013 - 21:04 | 3444988 Winston Churchill
Winston Churchill's picture

China to Russia ,and the ASEAN trade partners.

Russia to China, and ASEAN countrys.USA is no longer in ASEAN.

Problem solved for them,the US, and

Europe not so much, though I would not trust zee Germans not to join such a  bloc.

Ribbentrop/Molotov type move.Could be why they were refused their gold.

You are not seeing the wood for the trees.

Sat, 04/13/2013 - 14:59 | 3444956 Zola
Zola's picture

Massively false predictions, massive **** sucking, massive incompetence and you guessed it , rewarded by even higher paying job and benefits. The story of the world these days. Good men are being pushed away from ALL positions of power. 

Sat, 04/13/2013 - 17:19 | 3445186 booboo
booboo's picture

"It's premature to say the economy is reviving in a consistent way, but I think it is fair to say the economy isn't going to weaken any further."

"So predicted Moody's chief economist Mark Zandi on July 6, 2007, right in the midst of a deflating housing bubble.  As the rest of the world knows, the U.S. economy didn't bottom out till well over a year later.  Chalk up another failed prediction for Mr. Zandi who holds a worse record than Charlie Sheen in rehab"

http://www.americanthinker.com/blog/2011/09/mark_zandi_never_right_yet_still_trusted.html

Sat, 04/13/2013 - 18:58 | 3445207 GoldRetriever
GoldRetriever's picture

Oh Zandi

the numbers you're always misstating

and you lie with a straight face

Oh Zandi

You'd give dog shit a triple A rating

You're a Wharton disgrace

Oh Zandi

Sat, 04/13/2013 - 17:40 | 3445233 Village Smithy
Village Smithy's picture

I despised that man when his grossly overpaid salary went on someone else's tab. Now we are going to pay him.

Sat, 04/13/2013 - 18:52 | 3445338 khakuda
khakuda's picture

WTF is it that we give all the important jobs to these economists who lack any and all common sense?

Not kidding when I say I'd have more faith in the guy who runs the local laundromat or the woman who cut my hair this morning because they have actually run a business.

Sat, 04/13/2013 - 20:11 | 3445475 imapopulistnow
imapopulistnow's picture

I've met him.  He really is one of the good guys.  Hope he doesn't get chewed up by the DC turkeys.

Sun, 04/14/2013 - 09:04 | 3446277 chinaboy
chinaboy's picture

Mark Zandi is an example of renting out opinions in exchange for power. FHFA is an example losing long term national interest in exchange for short term political gain. Good marriage.

Sun, 04/14/2013 - 12:34 | 3446651 franzpick
franzpick's picture

When macro numbers soon reveal the tipped over economy, Zandi Mae, Freddie Marc, the Dept. of Just-Us will all fit well together in GoBombEm's U.S.A.:  The Unbalanced States of Amerika.

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