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Monopoly corrupts. Absolute monopoly corrupts absolutely.





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25 experts who denied the housing bubble

For the record, the blog, Economics of Contempt, has what it calls The Unofficial List of Pundits/Experts Who Were Wrong on the Housing Bubble link here

It begins, "The housing bubble has precipitated a severe, and possibly catastrophic, economic crisis, so I thought it would be useful to put together a list of pundits and experts who were dead-wrong on the housing bubble. They were the enablers, and deserve to be held accountable."

It cautions, "The list includes only pundits and (supposed) experts. That means the list doesn't include policymakers such as Alan Greenspan and Ben Bernanke, because however wrong they may have been, policymakers and especially Fed chairmen are undeniably constrained in what they can say publicly. I strongly suspect that both Greenspan and Bernanke honestly believed that there was no housing bubble, but alas, we'll never know for sure. The list also doesn't include pundits/experts who were wrong only about the fallout of the collapse of the housing bubble that is, the extent to which the collapse of the housing bubble would harm the economy."

Most of these names are new to me. But after the dot.com bubble, I stopped paying attention to "financial" experts. The current record doesn't make it any more likely I will change my judgment.


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