Zandi has been on fire for a while now. It’s too bad that Moody’s wasn’t warned about this a few years ago so they could have marked all MBS to double junk. Oh wait, Zandi’s employer is owned by Moody’s, except he works for geek dept, while the the rating agency is run by their fraud dept. Why does Zandi still have a job, wouldn’t be surprised if he is arrested for fraud.
The 1.5% drop is very conservative, maybe its per month.
