Tuesday, May 22, 2007

The Dogs Ate My Home Loans!

"'First-time home buyers were begging us to make them loans because they thought home values were going up significantly, and so they put a lot of pressure on us to make them loans,' he said."

~Countrywide Chief Executive Angelo Mozilo, Reuters (hat tip CR)

Posted by Lander at 8:45 AM

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3 comments:

norcaljeff said...

I thought better of this guy. Guess you can really never trust a salesman. I'm sure consumers were putting guns to their heads to make these loans. Oh well, these people will all pay in the end.

Tuesday, May 22, 2007 10:53:00 AM
patient renter said...

Ahh, so this is what they call, "shifting the blame".

Tuesday, May 22, 2007 12:01:00 PM
Happy Sam said...

"You HAVE to give me this loan. My Realtor says if I don't buy today I'll be priced out forever!"

Tuesday, May 22, 2007 2:59:00 PM

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