Cyberattack Contagion in the Financial System
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Join Chief Economist, Mark Zandi, and team as they discuss the mounting risks cyberattacks pose to the global financial system, with recent breaches exposing serious vulnerabilities. Using Moody’s global economic model, they'll consider the economic fallout of a deposit run on small and medium-size financial institutions precipitated by successive cyberattacks. They'll also explore the implications of a cyberattack that paralyzes the retail payments system.
So far, financial institutions have been largely successful in heading off a massive cyber event, but it is prudent to consider what would happen if this doesn’t continue.
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SpeakersMark Zandi Chief Economist Moody's Analytics
Jesse Rogers Assistant Director, Economist Moody's Analytics
Matt Colyar Economist Moody's
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Mark M. Zandi is chief economist of Moody’s Analytics, where he directs economic research. Moody’s Analytics, a subsidiary of Moody’s Corp., is a leading provider of economic research, data and analytical tools. Dr. Zandi is a co founder of the company Economy.com, which Moody’s purchased in 2005.
Dr. Zandi’s broad research interests encompass macroeconomics, financial market sand public policy. His recent research has focused on mortgage finance reform and the determinants of mortgage foreclosure and personal bankruptcy. He has analyzed the economic impact of various tax and government spending policies and assessed the appropriate monetary policy response to bubbles in asset markets.
A trusted adviser to policymakers and an influential source of economic analysis for businesses, journalists and the public, Dr. Zandi frequently testifies before Congress on topics including the economic outlook, the nation’s daunting fiscal challenges, the merits of fiscal stimulus, financial regulatory reform, and foreclosure mitigation.
Dr. Zandi conducts regular briefings on the economy for corporate boards, trade associations and policymakers at all levels. He is on the board of directors of MGIC, the nation’s largest private mortgage insurance company, and The Reinvestment Fund, a large CDFI that makes investments in disadvantaged neighborhoods. He is often quoted in national and global publications and interviewed by major news media outlets, and is a frequent guest on CNBC, NPR, Meet the Press, CNN, and various other national networks and news programs.
Dr. Zandi is the author of Paying the Price: Ending the Great Recession and Beginning a New American Century, which provides an assessment of the monetary and fiscal policy response to the Great Recession. His other book, Financial Shock: A 360º Look at the Subprime Mortgage Implosion, and How to Avoid the Next Financial Crisis, is described by the New York Times as the “clearest guide” to the financial crisis.
Dr. Zandi earned his B.S. from the Wharton School at the University of Pennsylvania and his PhD at the University of Pennsylvania. He lives with his wife and three children in the suburbs of Philadelphia.
Jesse Rogers, an assistant director, economist at Moody’s, covers Latin America and emerging markets in Asia. He focuses on Chile, Peru, trade policy, international capital flows and economic development. Jesse joined Moody’s in 2014, following internships at U.S. Treasury and Institute of International Finance. Earlier, he reported on finance and politics for El Diario New York and worked at the Center for Research and Teaching in Economics, Mexico City.
Matt Colyar is an economist at Moody’s in King of Prussia PA. His work is primarily focused on the labor market and monetary policy in the U.S. He also covers the economies of Pennsylvania, Missouri, and several U.S. metro areas. Prior to joining Moody’s Analytics, Matt worked at the World Bank, focusing on private-sector development in South Asian countries, and in private industry as a financial analyst. He received his master’s degree in applied economics from Lehigh University and his bachelor’s degree in business administration from West Chester University.