Time Magazine’s 25 Faces to Blame for the Financial Crisis
Posted on: February 28, 2009
- In: Economy | Foreclosure | Lending | Real Estate
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The son of a butcher, Mozilo co-founded Countrywide in 1969 and built it into the largest mortgage lender in the U.S. Countrywide wasn’t the first to offer exotic mortgages to borrowers with a questionable ability to repay them. In its all-out embrace of such sales, however, it did legitimize the notion that practically any adult could handle a big fat mortgage. In the wake of the housing bust, which toppled Countrywide and… Oh, there’s more!
Shelli Dore
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