"PFF Chief Executive Kevin McCarthy said in an interview that his bank started pulling back on land loans two years ago, anticipating a downturn like "the normal economic cycles we've always had out here."Nobody foresaw? W.C. Varones readers did.
"But nobody foresaw what would happen to the housing market, or that sub-prime mortgages would collapse so completely," he said.
6.17.2008
Who knew?
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