LA Biz Observed
 
Bio • Email • Archive
 

 

We refer to Countrywide CEO Angelo Mozilo, who over the years has managed to say the darndest things. In early 2004, he told National Mortgage News that there should be no downpayments on mortgages. Contributing equity to purchase a home, he said, is "nonsense" (thanks to our friends at Dealbreaker for pulling up the citation). Oh, and credit requirements: Mozilo said they're too high. "The only way we can have a better society," he explained, "is to make sure those who don’t have a house have the opportunity to get one." And now, the opportunity to foreclose.

> | More
© 2003-2011   •  About LA Observed  •  Email the editor
Mark's latest news
and commentary
 
 
LA Biz Observed
by topic
Economy and jobs
Media, books & Hollywood
Politics and labor
Travel, food and life
Technology
Land and real estate
Wealth and poverty
 
 
New at
LA Observed
 
2:25 PM Fri | Martin Gomez, the head librarian for Los Angeles since 2009, will become vice dean in the USC Libraries on April 2.