Tuesday, November 06, 2007

Just What Are They Paid For

Dean Baker:

The Financial Times reports that several market analysts now think that the fallout from bad mortgage debt will continue for some time and be much worse than they had expected. Given that these people are paid very high salaries to understand these markets, it would be worth asking why they apparently got this one so badly wrong. It would also be a very good story to report on the extent to which these high priced experts suffer any professional consequences as a result of such a costly mistake.