Roland-Arnall-03-2008.jpgRoland E. Arnall, the founder of the Ameriquest Mortgage Company, died earlier this week. Arnall, whose personal fortune was pegged at $1.5 billion by Forbes last year, was a top donor to the Republican party and was named the U.S. Ambassador to the Netherlands in ’06. Ameriquest, which went out of business last August, was one of the largest subprime lenders in the country and was the target of dozens of lawsuits over its allegedly deceptive lending practices. Arnall was 68.
Roland Arnall, Mortgage Innovator, Dies at 68 [NY Times]


What's Your Take? Leave a Comment

  1. How do you define financial risk vs. system wide fraud that built nothing except the general population’s appetite for buying things (many useless) that they don’t need.

    Here’s how I define proper alignment of financial risk with rewards. Promote investment in medical research and technologies. Promote green policies and reward those individuals and companies that risk their capital for such.

    Selling high yield securities backed by questionable to non-existant cash flows does nothing except reward the pillagers with profits. It degrades our valuations, morals and misallocates resources.