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Sunday, August 12, 2007

Countrywide's Mozilo Says Fed "May Change Everything"

August 10 2007

Countrywide Financial Corp. Chief Executive Angelo Mozilo said the U.S. Federal Reserve's decision to pump more than $38 billion into the banking system may bolster confidence and help restart stalled credit markets. "The action of the Fed today may change everything,'' said Mozilo, 68, head of the biggest U.S. mortgage lender, in a telephone interview. "It certainly provides liquidity to the banks. I feel very positive about the move.''

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