Closing the barn door

Countrywide Financial names chief risk officer:
Countrywide Financial Corp named Jess Lederman as chief risk officer on Tuesday, as the largest U.S. mortgage lender confronts a slumping housing market.

Lederman joined Countrywide in 2005, and was most recently managing director of products and pricing.
Ha! So the guy responsible for the promotion of ARMs, option ARMs, and other bad products that are now cratering in CFC's portfolio is now the guy in charge of "risk."

You can't say the Ooompa Loompa doesn't have an ironic sense of humor!

HT: Housing Panic.

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