Countrywide's message of confidence turned to crisis
Countrywide's message of confidence turned to crisis
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CEO forecast the lender would 'shine' as the industry changed. Later, he said the firm knew the bubble would burst. A year ago, Countrywide Financial Corp. Chairman and Chief Executive Angelo R. Mozilo was boasting that the looming shakeout in home prices and hike in mortgage interest rates would usher in a period of remarkable prosperity for his company. |
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News entry number 348 added on Sep 3, 2007 in the Business News category.
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