Friday, February 8, 2008
The Fifth Annual Conference of the American Securitization Forum was held this week in Las Vegas, and the New York Times headline may say it all: Creators of Credit Crisis Revel in Las Vegas. Countrywide Financial, poster child for the collapse of the mortgage industry, hosted a Super Bowl party, there was a gala dinner hosted by a bond trader, and a golf outing. Meanwhile, there were panel discussions on topics like "Transparency, Valuation and Rebuilding Investor Confidence." Good luck with that.