2008-08-05 — portfolio.com
allegations have surfaced that Dick Syron, the now-embattled boss of Freddie Mac, ignored warnings from risk managers and underlings to tighten up the mortgage giant's balance sheet and cut risk as far back as 2004.
See also a Yahoo pickup of the story.
We love this statement from the man:
Most appalling, however, is Syron's self-interested take on a collapse that's crippled the housing market. "If I had better foresight, maybe I could have improved things a little bit. But, frankly, if I had perfect foresight, I would never have taken this job in the first place."
Sounds like some form of "regret." Too bad he doesn't have the intestinal fortitude Frank Raines clearly has.
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