University of Southern California

CNN Interviews Adlai Wertman for "American Morning"
Professor Speaks on Ethics of Country wide Successor PennyMac
March 10, 2009 • by News at Marshall

CNN's "American Morning" interviewed Adlai Wertman of the USC Marshall School about a former Countrywide executive forming the company PennyMac to buy up cheap, delinquent home mortgages.

"It's perfectly legal," Wertman said. "It just doesn't seem to pass the smell test," he added.

Nevertheless, many experts believe that companies which buy up bad loans, service them and keep taxpayers from footing the bill may turn out to be an important part of solving this housing crisis, Wertman noted.

"It's exactly what we should be doing and what the private sector should be doing. We just have to make sure that they're doing it in a manner that's fair to all parties involved."

About the USC Marshall School of Business
Consistently ranked among the nation's premier schools, USC Marshall is internationally recognized for its emphasis on entrepreneurship and innovation, social responsibility and path-breaking research. Located in the heart of Los Angeles, one of the world's leading business centers and the U.S. gateway to the Pacific Rim, Marshall offers its 5,700-plus undergraduate and graduate students a unique world view and impressive global experiential opportunities. With an alumni community spanning 123 countries, USC Marshall students join a worldwide community of thought leaders who are redefining the way business works.