Blame the CEOs not the Sales Reps!

•  
  DrBruin09/23/08 Report as spam
  1

  RE: Blame the CEOs not the Sales Reps!

  Maybe if Angelo Mozilo had spent less time in the tanning bed and more time in managing Countrywide ethically, he wouldn't need to squirm in front of a Congressional panel. Kanjorski deserves an award for pinning these weasels down--an 18 percent failure rate on the first month's payment and they didn't notice this? They're either incompetent or they're crooks. Hmmm...wonder which one it might be?

•  
  bjwtaylor11/13/08 Report as spam
  2

  RE: Blame the CEOs not the Sales Reps!

  The only logical conclusion one can reach is that they are both incompetent and crooks with a degree of arrogance that is astounding, even for corporate CEOs.
  
  Moreover, they just didn't give a damn about their shareholders, their customers, or impact on the country. It's the old Republican mantra: I got mine, screw you!
  
  As a realtor continually working with the mortgage industry down at the retail level, I find most customer-level lenders to be honest and competent. However, their management is so totally focused on immediate net income that the sleazy loan officers who foist loans, good or bad, on customer who have no ability to pay will be a hero. The good, honest loan officers with integrity will be the dogs.
  
  I have personally reported violations of state and federal laws, nevermind just company policy and provided extensive written proof to local, regional, and national corporate management and gotten no response but yawns. They not only didn't care. They approved and encouraged violation of the law and ruin of their trusting customers. One national executive informed me that one of the loan officers in question was untouchable because she could bring in 45 to 60 loans at a time. Bad loans, but lots of money.
  
  The company, one of the very biggest banks in the country, didn't worry about the loss they knew they were incurring, because they would pass it off to investors.
  
  They all knew what they were doing.