tag:blogger.com,1999:blog-7905515.post1361656343664914941..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Conventional Wisdom in 2003Eric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7905515.post-51097684181538719772010-09-28T16:13:42.286-05:002010-09-28T16:13:42.286-05:00Mozilo is merely parroting a Boston Fed pamphlet w...Mozilo is merely parroting a Boston Fed pamphlet written to bolster the belief--first propagated by Alicia Munnell--that the home lending industry had been racists, denying blacks access to loans by using unreasonable standards.<br /><br />Absent that political pressure Mozilo almost certainly wouldn't have come up with this nonsense on his own.Patrick R. Sullivannoreply@blogger.comtag:blogger.com,1999:blog-7905515.post-60478129278932752732010-09-28T14:13:41.971-05:002010-09-28T14:13:41.971-05:00Current down payment requirements of 10 percent or...<i>Current down payment requirements of 10 percent or less add absolutely no value to the quality of the loan</i><br /><br />I assume he is misquoted and actually said "10 percent or more". Either way, this was proved to be horribly wrong, not that it should have been surprising that elevating politics about sound business judgment results in disaster.Anonymousnoreply@blogger.com