Stanford Kurland, who made hundreds of millions of dollars

as the #2 man at now-defunct Countrywide, is now making a

killing with his new company, Pennymac, by buying up bad

residential loans for pennies on the dollar. As one observer

put it, “It is sort of like the arsonist who sets fire to the house

and then buys up the charred remains and resells it.” Greed,

someone has said, is always a growth industry.