Angelo Mozilo ……….…….co-founder Countrywide
Phil Gramm ……….……….Champion of deregulation
Alan Greenspan ……….….ex-Fed Chairman
Chris Cox ……….……….…ex-SEC chief
American Consumers …….Household debt reached 130% of income in 2007
Hank Paulson ……….……..From Goldman to Treasury Secretary
Joe Cassano ……….……….Founder of AIG financial-products unit (Credit default swaps)
Ian McCarthy ……….………CEO of Beazer (helped build more homes than US could handle
Frank Raines ……….………Left Fannie Mae embroiled in accounting scandal
Kathleen Corbet ……….…..Standard and Poors ratings agency
Di.ck Fuld ……….……….…Steered Lehman deep into subprime mortgages
Marion and Herb Sandler …Creators of option ARMs
Bill Clinton ……….……….…Oversaw repeal of Glass-Steagall
George W. Bush ……….….Pushed philosophy of deregulation. No federal oversight
Stan O’Neal ……….………..Pushed Merrill deep into CDOs
Wen Jiabao ……….………..Proxy for Chinese govt — supplied US with ton of cheap credit
David Lereah ……….………Nat. Assoc. of realtors — told us housing market will chug forever
John Devaney ……….……..Hedge funder who bought up a ton of mortgage loans
Bernie Madoff ……….……..Ponzi schemer
Lew Ranieri ……….………..Father of mortgage-backed bonds
Burton Jablin ……….………Scripps Networks — taught viewers how to extract value from homes
Fred Goodwin ……….……..Royal Bank of Scotland — stretched capital reserves beyond belief
Sandy Weill ……….………..Citigroup — biggest lobbyist for repeal of Glass-Steagall
David Oddsson ……….…….Iceland Prime Minister — privatized their 3 main banks
Jimmy Cayne ……….………CEO Bear Stearns — Ran into the ground
I think that is a pretty accurate list.
- William
