The Subprime Tsunami Awards
Bob Morris @ Apr 4th 2007 16:03 - Category: Credit crisis
Best Subprime Couple: Maria Bartiromo of CNBC and Angelo Mozilo, chief executive of subprime mortgage giant Countrywide Financial. On March 13th, Bartzilo canoodled on Closing Bell. Maria looked soulful as Angelo bemoaned the liquidity crisis that will result if regulators respond to the subprime tsunami with too much regulation and investors say P.U. to MBS. Angelo acknowledged that some Countrywide competitors had been “irrational” and it would be “positive” if they folded. But he also invoked the little people and their need to ascend the social ladder via subprime affordable homeownership.
Pass me a hankie so we can all grieve for the poor subslime mortgage brokers who are being so persecuted and misunderstood… Maybe we could send them inspirational postcards when they’re in prison.
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