It’s still January (and will be through the end of the month) so I am still going through my files of old clippings looking for predictions pundits and talking heads made during 2010 and subjecting them to veridiction, my pratice of verifiying predictions.
Today, I am revisiting John Carney, a senior editor at CNBC, who often appears on the radio program, Marketplace.
In November of last year, I wrote about one of his predictions from the October 29, 2010, edition on that radio program where he said the stock market would go down after the Federal Reserve announced its intention of buying $600 billion worth of Treasury bonds.
Turns out the market went up.
In ended that post two months ago by saying…
Mr. Carney can take solace in the fact that he made another prediction on the same program that the upcoming lame-duck Congress will include an attempt to forgive banks regarding the foreclosure mess. At least he has a chance to bat .500 so stay tuned.
Now that the 111th Congress has ended, how did that prediction pan out.
Not so well.
According to THOMAS, there were only three bills introduced into Congress during their lame-duck session that contained the word “foreclosure” (HR 6431, S 3979, S 4058) and none had anything to do with forgiving banks. In addition, of the bills passed by Congress during November and December of last year, none had anything to do with forgiving banks.
So it appears that Mr. Carney went 0-for-2 in this October 29th predictions of last year. However, as I am not an expert on all thinsg Congressional and financial, so if it turns out that I missed a bill that did indeed attempt to forgive banks of the foreclosure mess, I will note my mistake here.
I only wish more pundits and talking heads would admit their mistakes.