Housing Crash: Blame Everyone Else

From Countrywide Financial CEO Angelo Mozilo, on the housing market crash:

As you know, the unprecedented and worldwide dislocation of the credit
markets combined with actions taken by regulators, rating agencies,
legislators, the media and others have strained the housing and housing
finance sectors as never seen since the Great Depression.

What?  No mention of the boatloads of risky loans offered by firms such as his?  I’m shocked!

Full memo from Mozilo available here: Countrywide CEO Mozilo message to employees

Published by Lutheran Zephyr

Spouse. Parent. Lutheran Pastor. National Guardsman. Political Junkie. Baseball Fan.

One thought on “Housing Crash: Blame Everyone Else

  1. Is this the same guy that stands to “make” about 100 million because Countrywide is being bought out by a big bank? Heard it on NPR…….

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