Primarily the greed of gaining market share and dominance of the mortgage lender segment caused Angelo Mozilo to lose his company and over sixty-eight million dollars. The loss of Countrywide and Mozilo retirement does not compare to the loss of many homeowners.
The goal of increasing from “ten percent market share to thirty percent market share” was the one of underlying ethical issues (O’Brien, 2010, para.10). Mozilo’s vision of growth in this a case study is an example of winning bad business and how it is not sustainable. Greed and ethical oversight were the downfalls of Mozilo and his company. While striving to be the largest in the mortgage industry is admirable, one must not abandon the principles of sounds financial analytics (Ferrell
The goal of increasing from “ten percent market share to thirty percent market share” was the one of underlying ethical issues (O’Brien, 2010, para.10). Mozilo’s vision of growth in this a case study is an example of winning bad business and how it is not sustainable. Greed and ethical oversight were the downfalls of Mozilo and his company. While striving to be the largest in the mortgage industry is admirable, one must not abandon the principles of sounds financial analytics (Ferrell