P. 1
V Countrywide Depo

V Countrywide Depo

|Views: 1,487|Likes:
Published by Foreclosure Fraud

More info:

Published by: Foreclosure Fraud on Dec 21, 2012
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

08/20/2013

pdf

text

original

1

R. GLENN HUBBARD - CONFIDENTIAL

2

14:36:27

states?

3

14:36:27

A. You know, I don't. There may

4

14:36:30

have been a difference in statistical

5

14:36:32

significance. But I don't recall.

6

14:36:35

Q. Isn't it correct that actually

7

14:36:38

as you expand from eight states to 15 to

8

14:36:42

all states you're going to see a decline

9

14:36:44

in, the average decline in house prices

10

14:36:48

will be lower the more states you

11

14:36:50

include?

12

14:36:50

A. Yes, sir, and that's the

13

14:36:52

problem. That's why you can't do the

14

14:36:54

hundred percent because you can't see a

15

14:36:56

hundred percent for everybody. So you've

16

14:36:57

just introduced exactly the bias you

17

14:37:00

mentioned. So you have to take a stab.

18

14:37:02

Eight seemed like a reasonable thing to

19

14:37:04

me but I tried five and fifteen and my

20

14:37:06

recollection is no material difference.

21

14:37:08

Q. You say there's a bias. In

22

14:37:10

fact, the loans tell you what percentage

23

14:37:13

to include from every state, don't they?

24

14:37:15

A. No, sir.

25

14:37:16

MR. APFEL: Objection.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->