Former Countrywide CEO Angelo Mozilo believes banks should get back into mortgage lending

{1} Countrywide Financial的前任首席执行官Angelo Mozilo认为银行应承保金融危机摩洛哥在拉斯维加斯的SALT会议上发言时告诉听众，一旦主要银行退出该领域，抵押贷款银行家已经填补了这一空白，这是因为主要银行退出该领域是不受监管的.Mozilo还表示次级抵押贷款是2008年金融危机“根本不是原因”，声称这只是政治家和媒体的“轻松目标。”美国有线电视新闻网最近称“面对美国的抵押贷款噩梦”认为银行应该重新开始这项业务。在拉斯维加斯SALT会议上罕见的公众露面上，安吉洛·莫齐奥表示，银行已经将抵押贷款空间留给了抵押贷款银行领域潜在的“不受监管”的坏势角色。 “[银行]没有参与抵押贷款ge business，这就是他们应该去的地方。为这个国家的人民提供服务，让人们有机会拥有房屋，拥有自己的汽车，”前任首席执行官兼陷入困境的抵押贷款机构Countrywide Financial的董事长Mozilo说道，后来被出售给美国银行。“银行不是他认为，虽然他认为目前的制度不是”灾难的一种方法“，但他认为银行”现在甚至可能过度资本化。“银行肯定没有过度杠杆化，”他说。更多：“大空头”中的一群对冲基金经理是Citadel最近削减股票的受害者.Mozilo还告诉与会者，房利美和房地美不应受政府监管，这是几家知名对冲基金的共同立场像约翰保尔森这样的经理。联邦住房融资机构负责人最近表示，抵押贷款公司可以在没有立法的情况下从政府控制中撤出，正如许多人以前认为的那样.Mozil0于1969年在全国范围内共同创立。他帮助创建和推广次级抵押贷款，然后Countrywide通过一个称为证券化的流程将这些抵押贷款打包并出售给投资者。当2007年底市退出房屋市场时，Countrywide报告亏损12亿美元，后来以40亿美元的价格卖给了美国银行。由于住房危机帮助推动了全球经济的发展，许多人指责Mozilo。他被“时代”杂志评为金融危机的25人中的一员，该杂志当时称其“全力以赴”为向有偿还能力的人提供“异乎寻常的抵押贷款......”确实合法化几乎所有成年人都可以处理大额抵押贷款的概念。“2010年，他同意向美国证券交易委员会支付创纪录的6750万美元以解决欺诈指控。当时美国证券交易委员会执法部门主管罗伯特·库扎米当时表示，”莫尔齐的纪录处罚是一个企业高管的合理结果，他通过隐瞒他从执行套件中看到的内容故意无视投资者的职责。“ SALT，Mozilo对次级抵押贷款市场崩溃是金融危机根源的观点感到愤怒。他表示，与世界总体资产相比，次级抵押贷款空间的资产是”海洋中的一块鹅卵石。“”每个人都指责次级抵押贷款，对我来说这实际上只是胡说八道。这根本不是原因，“他说。 ”对政治家和媒体来说，这是一个容易实现的目标。“更多信息：亿万富翁房地产投资人萨姆泽尔说，现在是”为未来的房地产购买积累资本的时间，因为过剩了 {1 }{0}{1}

Angelo Mozilo, the former CEO of Countrywide Financial who was one of several financial executives blamed for the financial crisis, believes the banks should be underwriting more mortgages.Mozilo, speaking at the SALT Conference in Las Vegas, told the audience that the mortgage bankers that have filled the gap since the crisis once the major banks pulled back from the space are “unregulated.”Mozilo also said that subprime mortgages was “not the cause at all” of the 2008 financial crisis, claiming it was just an “easy target for the politicians and the media.”The man CNN recently called the “face of America's mortgage nightmare” thinks banks should get back in the business of writing home loans to individuals.Angelo Mozilo, in a rare public appearance in front of a crowd at the SALT Conference in Las Vegas, said banks have left the mortgage space to potential bad actors in the mortgage banking space that are “unregulated.”“[The banks] are not involved in the mortgage business, and that's where they should be. Serving the people of this country, and giving people the opportunity to own homes, to own cars,” said Mozilo, the former CEO and chairman of troubled mortgage lender Countrywide Financial, which was later sold to Bank of America.“The banks are not lending the way I think they should.”While he doesn't think the current system is “a recipe for disaster,” he thinks the banks “may even be overcapitalized” now.“Banks are certainly not overleveraged,” he said.See more: A bunch of hedge fund managers featured in 'The Big Short' are among the casualties of Citadel's most recent cutsMozilo also told attendees that Fannie Mae and Freddie Mac should not be under government conservatorship, a stance shared by several well-known hedge fund managers like John Paulson. The head of the Federal Housing Financing Agency recently said that the mortgage companies can be taken out from governmental control without legislation, as many previously thought was required. Mozil0 cofounded Countrywide in 1969. He helped create and popularize subprime mortgage, with Countrywide then packaging these mortgages up via a process called securitization and selling them to investors. When the bottom fell out of the housing market in 2007, Countrywide reported a $1.2 billion loss, and it later sold to Bank of America for $4 billion. As the housing crisis helped bring down the global economy, many pointed the finger at Mozilo. He was named one of the 25 people to blame for the financial crisis by Time magazine, which said at the time that its “all-out embrace” of offering “exotic mortgages to borrowers with a questionable ability to repay them ... did legitimize the notion that practically any adult could handle a big fat mortgage.”In 2010, he agreed to pay a record $67.5 million to the SEC to settle fraud charges. Robert Khuzami, then the director of the SEC's Division of Enforcement, said at the time that “Mozilo's record penalty is the fitting outcome for a corporate executive who deliberately disregarded his duties to investors by concealing what he saw from inside the executive suite.”At SALT, Mozilo bristled at the notion that the collapse of the subprime mortgage market was the root cause of the financial crisis. He said the assets in the subprime space compared to the overall assets in the world were “a pebble in an ocean.”“Everybody blames subprime, which to me is really just nonsense. It was not the cause at all,” he said.“It was an easy target for the politicians and the media.”See more: Billionaire real-estate investor Sam Zell says now is 'the time to accumulate capital' for future real-estate buys as a glut approaches

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