Angelo Mozilo: March 13 2007

"This is now becoming a liquidity crisis, an unnecessary one," Mozilo told CNBC television. "There's been a rush to judgment, an overreaction, a baby out with the bathwater. There's no question about it." Mozilo said the winnowing of competitors will be "great" for Countrywide, the largest U.S. mortgage lender, which might pick up market share.

From Reuters

Posted on January 11, 2008 and filed under Finance.