Mozilo shouldn't just be worried about the SEC. He shouldn't just be worried about irate laid-off Countrywide employees. He shouldn't just be worried about CFC shareholders who lost everything. He shouldn't just be worried about the thousands and thousands who got pushed into toxic loans so he could earn higher commissions. And he shouldn't just be worried about his future boyfriends in jail.
No, with his level of naked greed and corruption, he and others in the REIC and government should now be worried about the guillotine. Now we just need a Robespierre.
The good news is that the prosecutors were able to seize Bernie Ebbers assets and ill-gotten-gains during his downfall, and I hope that they'll be able to do the same with The Orange One. This is just sick.
Lavish Payout, Perks for Failed Mortgage CEO - His Severance Package Includes Jet Use, Country Club Dues and a Hefty Payout
Angelo Mozilo, the co-founder and public face of troubled mortgage giant Countrywide, is eligible for tens if not hundreds of millions in compensation and perks on the sale of the company to Bank of America.
During calendar 2006, the latest period available for review in Securities and Exchange Commission filings, Mozilo took home $48.1 million in compensation. An early analysis of SEC filings by the Los Angeles Times suggests he could get upward of $115 million when he leaves after the sale is complete, despite the fact that the company tanked during the recent subprime mortgage crisis.
Immediately upon a change in control, Mozilo would get $13.3 million in accelerated vesting of stock grants, according to the terms of his 2004 compensation agreement, included in the company's latest proxy statement.
Should he leave the company after the firm's buyout, Mozilo would get a one-time cash payment of $88 million.
January 12, 2008
France 1789. America 2008. Louis XVI. Angelo Mozilo. When will we hear chants of "OFF WITH THEIR HEADS!!!"?
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36 comments:
The fact that Moz continues to cheerlead goes beyond optimistic corporate stewardship and now is full-fledge fraud, misrepresentation and self-delusion.
I never worked for CFC, didn't buy stock and didn't get a toxic note from them; but the man needs to do serious prison time and surrender every asset he has.
Keith
Dont forget.
This isnt France circa 1789, where the wealthy and royalty were beheaded.
This is America, circa 2008, where the wealthy commit crime and get away scott free and the media still worship you.
Think of all the celebrity criminals of the past who not only got away, but thrived and prospered:
OJ Simpson, Phil Spector, Robert Blake, Kobe Bryant, and now...
Angello Mozillo.
Come on Keith, this isnt Europe where criminals go to jail. This is the USA. I bet Mozillo could get elected president if he chose to run!
Keith
Angelo Mozilo will not hear
"Off With Their Heads!!!"
No, it will be,
"Ladies and gentlemen, citizens of the United States, I present you our new comander in chief, the President of the United States...Angelo Mozilo"
in a landslide election no doubt.
Mozillo is obviously purely evil. How else could he accept such massive compensation with a straight face after leaving behind such an monumental mess. History will show he made a significant contribution to the downfall of the U.S. of A.
Mozillo Wins
HP loses
Sorry.
This is the reason we should outsource CEO jobs to India.
Imagine all the savings we would have from CEO's who only steal 10% of what an American CEO will for the same crappy, incompetent job!
I just threw up thinking of all this corruption....sick...just sickening...
Oh no he made money. He must be executed.
Somewhere in the depths of hell Lenin is smiling right now.
Keith,
Your mention of Robespierre is quite interesting. He too was a British tool used to destroy the nation state of France. Keith are you also familiar with Ambrose Pritchard? He's another British agent.
Look at the date of the French revolution (1789) and ask yourself what else was happening in the world driving the British Empire crazy. You might recall the American Revolution, eh? The British were determined not to let the American Revolution spread into Europe and hence they used agents like Robespierre to topple the French Republic which lead to the worlds first fascist dictator Napolean.
We dont need a fascist revolution like that which occured in France in 1789. What we need is another American Revolution that rids the planet of the British Empire and it's disease called "Free Trade".
Keith, you are a British agent.
It's people like Mozillo that have classically been portrayed as the arch-enemy of the people throughout history.
I'm a conservative Republican, capitalistic advocate of democracy, by the way.
Yeah, I think if you want a 21st century metaphor for Mephistopheles, the Devil, this guy is it. He even has a stange smile about him, besides his aura of schadenfreude and strange orange glow.
Like a twilight shadow falling across the darkening economic landscape of an America he helped create, Mozillo lays waste to thousands of peoples lives, both employees and customers alike, then walks away not only with impunity--like medieval royalty-- but also with with herculean perks such as Caesar-like charter jet and country club privileges, on top of the tens, if not hunrdeds, of millions of investor dollars.
He's like the Evil One in that Robert Diniro film, I think it was called "Devil's Advocate."
There's an old saying, "God sees the truth...but waits!"
It ain't over till the fat lady sings, and I think we've all, God included, waited long enough.
Ice-cold Orange Julius, served in a gold chalace and sipped through a silver straw in his imperial palace, or an orange jumpsuit and a brutal bunkmate name Brutus in an ice-cold jail cell, for Angelo?
You decide!
Patience Keith, good things come to those who wait...and it is coming.
Before you lop off tangelo's head, take *all* his money, convert it to cash, then tie him to a stake, then burn the money at the base of it. A guillotine is much too merciful.
Only in a corrupt 2nd world country like ours.
Violent revolutions are the product of third-world dictatorships, not...
Oh, right. Off with their heads!
Please excuse my ignorance, but if Countrywide is on the verge of bankruptcy where is it getting the $ to pay Mozilo?
You dont have enough sharp blades to get all those that have it coming to them.
Adolph realized this and prepared accordingly.
Think BIG. Pretend you are Suzanne.
WE CAN DO THIS!
Start with all convicted death row prisoners. That would make a perfect statement. Force all broadcast stations to telvise the proceedings.
Watch them go slowly and hopefully painfully for payment of an account Past Due.
Off with his head and the others like him that are soon to follow in failed mortgage schemes. But this man in particular deserves jail time. Also, tell me why after three years of talking about the mortgage quagmire to family and friends and literally being ignored and/or laughed at, and now being vindicated, do I feel so bad? I know this is going to get alot worse, and have been able to protect myself for the most part, but yet inside it sucks so much to still see all this happening. I feel bad especially for innocent people, and for people I know who were arrogantly dismissive every time I brought it up. It is just sad.
Mozillo deserves all the riches that he gets for playing the system correctly. Our ire should be directed, as in the French, as well as American Revolutions, at the corrupt, incompetent government. Those are the real criminals.
The 2nd Amendment isn't about hunting or self-defense.
To be fair though, Mozilo created CW from the ground up long time ago. He after all oversaw CW grow from a small mortgage shop to a large company. If BoA chose to pay him this much money it is probably their own private matter.
Maybe I'm too ambivalent, but I trully don't care about CW/BoA, I've never done business with them. So Mozilo oversaw creation of bad loans, but in the mania who didn't? As someone mentioned already, there is not enough sharp steel for everybody. The cure for the set of current problems must discourage these kinds of abuses happening in the future - abuses on all sides.
Its OK to make money! Its OK to be wealthy! American enterprise is GOOD! Innovation is good! Money is NOT the root of all evil, it's the LOVE of money, or, scam of money that is bad. Just remember that money buys food, clothing, heath care, krispy kreams, etc.
Its just HOW that person makes and/or spends that money that can be evil, such as war profiteering, home lending scams, stock scams, biz scams, selfish people, etc.
Overall, people who HARM OTHERS, should be against the law, dont you think?
How many people will you harm or injure today Mr Bush? 2? 20? 200? 2,000? 20,000? 200,000? 2,000,000,000?
How many so far Mr Bush?
When will YOU be stopped harming others?
Hello?... Mr Cheney? And you?
How's your energy stocks after increasing gas profits by X 3 on Americans who drive 12 MPG GM and Ford SUVS and trucks?
I know, I should get a 100% maxed out home equity loan, right? How come Ron Paul is not on American TV news reports? Remember American freedom and justice for all? Hmmmmmmmmmm.... Something fishy is going on around here and it's not good, but hey, SMILE! All will be fine!
Although I would LOVE to see Justice prevail and Angelo et al hanged in public... I know now it is not going to happen. Not with this government and regulators in charge of this once great U.S. of A.
Nevertheless, I am a great believer in Karma! What goes around really does come around. Angelo et al will, one way or another be brought to their knees, if not extinguished altogether by a Greater Power!
Anon said...
Mozillo Wins
HP loses
Sorry.
___________________________
Actually, you should say:
Mozillo Wins
Countrywide employees and stockholders lose
Families that took toxic Countrywide loans lose
Americans that believe in free enterprise (not socialism) lose
Americans that believe in morals and fair play lose
Americans that play by the rules lose.
People around the world that used to believe in America and our products lose.
HP wins because we saw all this coming and have chosen to protect ourselves against what people like Mozillo created.
Jymkata
PS after the recent stock market washout (erasing all the market gains from2007 in the Dow, Nasdaq and S&P 500), that boring 5% CD sure looks a lot better now!
Princess Mononoke:
Nevertheless, I am a great believer in Karma!
--------------------------
With all due respect, why do you believe in Karma. People get away with murder and rape everyday. Crimes are being committed this very minute to innocent victims of which the prepertrators will never pay for what they've done.
What I'm asking is "Where or when do people pay for what they've done, unless your talking about an afterlife, maybe?"
Sure, send Moz to the guillotine.
But we should also do the same to Billy Boy and Hitlery, the entire Bush family, John McCain, Huckabee, and (sure, why not) Obama.
Mozillo's crime: success in the capitalist system. According to you HP imbeciles that is punishable by death.
January 12, 2008 11:16 PM
That is a very good question.
I don’t pretend to know everything. In fact, I don’t take credit for the things I write. I sometimes get blown away with the written material that comes out of me.
What I do know however is that God gave us ALL free-will to make our own choices. I do know that we have been given the responsibility to care for one another, to stand up for those who can not. We have also been given the responsibility to care for this planet and everything in it.
All of those people you mentioned that have caused injustice and iniquity in this World can only continue if WE allow them to continue! These perpetrators will get away with as much as they can as long as We keep turning the other cheek, turning a blind eye, remaining silent to their actions and existence!
It is OUR duty to shed light on them! Expose them for what they are and stop them from continuing to damage and spreading their dis-ease throughout the World!
We are victims as long as we continue allowing them to victimize us.
As for their fate, only God knows how that will play out...
Time is coming for the Mozilo types,the poloticians etc.
Their wont be enougth Blackwater guards for them to hide behind.
Justice will come either by sword or eternity in the bowels of HELL.
"Let them eat cake"
It won't happen here because of the American worship of money. America is all about money. It is the God of this country. It does not matter if you gained your wealth by killing others with drugs, etc. , you are still respected. The press will adore you and build you up. The press will try to get you off if you are prosecuted. They will make a hero out of you and won't mention the bad. It is always money. You don't need to be educated or smart. Money is the only thing that people will listen to and jump at your command for. The more the better. Why is Hillary Clinton not under arrest for the way she made 5 thousand into 100 thousand in a matter of weeks in the futures market? That is what I am talking about!
I elaborated a little more on my blog if you care to read more on this subject...
Isnt it also funny that our elected officials are also criminals for not arresting or impeaching bush and cheney et all for their MASSIVE lies, secret meetings, REIC home ATM scams and chilling 9/11 cover-up's?
A big, monsterous dark cloud is hanging over DC. The nation is under a "truth news black-out," approved by our elected officials. They all drank the tainted kool-aid passed out by the secret man behind the curtain. ANYTHING WORSE CAN HAPPEN, and will!!! Hang-on my friends!!!
I've been saying this for 7-years now, the moment that I first saw that GW bush was running for president back in 2000. And so far, I've been 100% correct! but nevertheless, more MASSIVE DAMAGE is on the way from king bush and his Bozo the clown network of out-of-control elected official criminals! Weeeeeeeeeeeeeee!!!
(by the way, a vote to impeach them would only take a single day!)
Gee wiz, I sure am glad my church leader told me that I should vote for GW bush because he is such a good christian and never lies. Thats why I voted for Bush twice. He cares about humanity and killing other evil humans on massive scales at any cost and forever!
I think bush is right. We should bring back the draft ASAP and take over Iran with another 850,000 new American troops. Then march into Syria, Pakistan, Russia and then China with an additional 27 million US troops.
I'm with Bush. We should kill all of them first, before they kill us!
Princess Mononoke,
I went to your blog, but there were no photos of you or anything else to keep my interest, just some new age nonsense.
Princess Moonbat I hope you're hot otherwise you will starve to death
My blog is meant to touch those who are ready to connect and make a difference in this world. My blog is obviously not for you and that's okay.
As for my looks, I'll guess you'll never know will ya. Broke HA! That was funny ;)
Besides, Global Awareness 101 is NOT about me...
Modern Tea Parties of varying sorts are necessary. etc.
Strip them of their assets.
Exile them to islands.
Separate islands for different types of criminals.
Or, bring back the firing squad for these types of white collar thieves along with the murderers?
On another island, all those who don't want to work or want to have babies and cannot pay to maintain their existence in society.
Am very serious. Should have done twenty years ago. It really is the only solution to many problems.
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