Waiting on the man with answers
Writing in the New York Times on Dec. 27, financial columnist Gretchen Morgenson asked some important questions about Camarillo resident Bob Parry, a former president of the San Francisco Fed who served as a director of Countrywide Financial after he retired.
Morgenson wonders what Parry was doing as Countrywide veered toward disaster and why he continues to serve on other boards, notably truck maker Paccar.
We know at least anecdotally that Parry was deeply involved in helping successfully steer the ailing homebuilder into a merger with Bank of America. But it would be great to hear in Parry’s own words what transpired as the nation’s biggest home lender slipped toward insolvency.
We’ll offer him an open door to give his side of the story.