Word: mortgagee
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Mozilo may have led Countrywide over the subprime cliff, but he also constructed a formidable mortgage machine - 1,000 offices in 49 states responsible for 9 million loans worth about $1.5 trillion. Lewis had to figure out whether acquiring it would be worth the legal heartburn, including a shareholders' lawsuit...
That empathy for struggling customers is hard won. How many other FORTUNE 500 CEOs know what it's like to be denied a mortgage - as Lewis was when he was a 30-year-old manager newly posted to New York City from Charlotte, N.C.? A native of Meridian, Miss., Lewis...
While it may be tempting to think of the Countrywide deal as a happy ending to the fable of the subprime-mortgage market, for BofA it is really the climax of a 30-year saga of grand ambition. What next? "The only way to really succeed," Lewis says, "is to...
On Tuesday, Feb. 5, Democrats in 22 states, including Massachusetts, will go to the polls to select the Democratic Party’s nominee for President of the United States. We hope they select Sen. Barack H. Obama. He has won our unmitigated support because he has the experience, policy...
Each candidate's proposal reflects the overall thrust of his or her campaign: John Edwards, who was first to release an economic-stimulus plan, has the most populist approach, focusing on such measures as assistance to unemployed workers and weatherizing homes. Hillary Clinton unveiled a detailed proposal shortly after her...