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Genworth Financial, Inc. Message Board

  • rpschom rpschom Mar 22, 2013 9:18 AM Flag

    Cheers To The New Board Member

    Senator Kent Conrad as a new independent director.

    Onward and upward!

    Sentiment: Strong Buy

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    • A question from a not so sophisticated investor... Will having such a politically connected guy on the board have any advantages over a pure Wall Street insider.

      • 2 Replies to kay59sween
      • Senator's are a double edged sword...IMO!

        "In June 2008, it was reported that Senator Conrad had received mortgages on favorable terms for a second home and an apartment building due to his association with Countrywide Financial CEO Angelo R. Mozilo. Conrad acknowledged that he spoke with Angelo Mozilo, the Countrywide CEO, by phone. In an April 23, 2004, email about one of Senator Conrad's loans, Mozilo encouraged an employee to “make an exception due to the fact that the borrower is a senator. Conrad denied any prior knowledge of such treatment and gave away the mortgage discount to charity. Citizens for Responsibility and Ethics in Washington (CREW) called on the Senate Ethics Committee to investigate Conrad. In August 2009, after a year-long inquiry, the bipartisan Senate Ethics Committee exonerated Senator Conrad of any unethical behavior regarding his dealings with Countrywide Mortgage."

        With that said, he was not charges with calling in a favor, that's all it was and as you can see he has ties to MI politics and knows some big players in the business, etc.

        Could be an asset as long as he doesn't do any toe tapping in the bathroom stalls!!!!!!

      • JMHO but this individual could add value for shareholders.
        Long standing senator form 1987-2013, MBA from George Washington, voted by Time as one of the 10 Best Senators, with extensive work on budgets (Chairman of the Senate Budget Committee), etc ; along with that experience-- tremendous connections in the right places. Always hard to predict the exact significance of this type of selection but overall a great choice and positive for GNW.

        Our new CEO has an agenda to take us forward.
        GL

        Sentiment: Strong Buy

 
GNW
13.12+0.02(+0.15%)Oct 1 4:02 PMEDT

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