[SoConPubbie]

Also, 2 or more of the founders and/or senior executives of New Century Mortgage, which actually started the collapse of the Sub-Prime market, came from Long Beach Savings.

[tired1]

save for later

[superfluousdude]

As a former NC employee I can say that the mortgage implosion was in full swing before we went BK. Ownit Mortgage went BK at the end of 06. They were part owned by Merrill Lynch.

[VxH]

[Also, 2 or more of the founders and/or senior executives of New Century Mortgage, which actually started the collapse of the Sub-Prime market, came from Long Beach Savings.]

 

 

Yep, Roland Arnal and those who followed his example are directly responsible for the subprime fiasco.  

 

He belongs in jail, not in the Netherlands representing the American People.