So, former Countrywide Financial CEO Angelo Mozilo is off the hook for floating tens of thousands of subprime mortgages, including thousands of "liar's loans."
But, TAKE OUT a liar's loan, and, as Joe Nocera details, the feds spare no effort in convicting you and sending you to the federal pokey.
That said, beyond that, the person the feds put away? They had a weak case, Nocera said.
Now, isn't that what was claimed with Nocera? With Dick Fuld of Lehman?
Oh, the final "irony? Charlie Engle "lied" (it's arguable he didn't) ... to Countrywide.
Showing posts with label Mozilo (Angelo). Show all posts
Showing posts with label Mozilo (Angelo). Show all posts
March 25, 2011
February 20, 2011
Angelo Mozilo has friends in high places
Or, another bankster gets a pass.
Former Countrywide CEO Mozilo will not be charged with any crimes related to Countrywide's role in the subprime housing bubble.
Must be more "looking forward" by the Obama Administration's Department of Justice.
Former Countrywide CEO Mozilo will not be charged with any crimes related to Countrywide's role in the subprime housing bubble.
Must be more "looking forward" by the Obama Administration's Department of Justice.
July 27, 2009
Dodd and Conrad knew they had ‘VIP’ mortgages
Sens. Chris Dodd and Kent Conrad knew they had sweetheart mortgage deals, and Countrywide told them that at the time, according to “secret” Congressional testimony by Robert Feinberg, who worked in Countrywide's VIP section, to the Senate Ethics Committee.
On the other hand, Feinberg says it was not because they were senators, but because they were “friends of Angelo,” as in then-CEO of Countrywide Angelo Mozilo.
On the other hand, Feinberg says it was not because they were senators, but because they were “friends of Angelo,” as in then-CEO of Countrywide Angelo Mozilo.
January 11, 2008
Needed for today’s departing CEOs: the “Golden Ass Kicking”
With Bank of America taking over Countrywide, nimrod subprime guru Angelo Mozilo is getting a wunderbar golden parachute:
To replace this, we need the Golden Ass Kicking.
In this case, every Countrywide subprime mortgage holder in the country gets one free swift kick at Mozillo's ass.
Mozilo, one of the nation's highest-paid chief executives, stands to reap $115 million in severance-related pay if his troubled company is acquired by Bank of America Corp., regulatory filings show.
Free rides on the company jet are also included in Mozilo's departure deal, and the company will pick up his country club bills until 2011.
To replace this, we need the Golden Ass Kicking.
In this case, every Countrywide subprime mortgage holder in the country gets one free swift kick at Mozillo's ass.
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