June 17, 2008

A Special HousingPANIC Message for Angelo Mozilo at Countrywide Toxic Mortgage


You, Angelo Mozilo, will come to represent all that was evil and all that was wrong with the Late Great Housing Ponzi Scheme and Mortgage Madness.

* You made fraudulent garbage loans to people you know couldn't pay them back, knowing you could pawn off your trash to unsuspecting hedge funds, investment banks, governments, pension funds and investors

* You knowingly enabled rampant mortgage fraud

* You enriched yourself to the tune of hundreds of millions by dumping your stock while at the same time you directed your company to buy back the stock at inflated prices on the open market

* You blatantly bribed public officials to look the other way, like James Johnson, Chris Dodd, Kent Conrad, Alphonso Jackson, Donna Shalala, Richard Holbroke, and who knows who else

* You ruined lives. You destroyed families. You damaged your company and your country. And you destroyed the world's trust in the American financial system.

* Above all, you did what you did so as to personally enrich yourself, at the destruction of others.

It will give us no joy to see you frog-marched off to jail. It will give us no joy when the day comes that you are finally convicted of your crimes. And it will give us no joy when you are sent off to prison for the rest of your life, probably at the same facility housing the last shamed bubble fraudster, Bernie Ebbers.

Angelo Mozilo, you are the poster boy for the Late Great Housing Bubble and Crash.

I hope it was worth it.

You are garbage. And you are going to jail for a long, long, long time.


15 comments:

Anonymous said...

F@UK MOZILO THE LIFE RUINING GORILLO!!!!!!

Anonymous said...

Keith, you are such a rose colored glasses optimist. Have you considered that Mozillo will just fake his death and retire in the islands?

Anonymous said...

LOAN SLEAZE SPREADS
2 SENATORS GOT 'EXEC PAL' DEALS
By DAREH GREGORIAN

SUBPRIME TIME: Democratic heavyweight Kent Conrad of North Dakota saved thousands thanks to "VIP" loans from a subprime mortgage lender that's under scrutiny.

Two influential US senators got "VIP" loans from a leading subprime mortgage lender that saved them tens of thousands of dollars, it was reported last night.

The Democratic pols, Chris Dodd of Connecticut and Kent Conrad of North Dakota, both received the highly favorable loans under the designation "Friend of Angelo," a reference to embattled Countrywide head Angelo Mozilo, Condé Nast Portfolio reported.

Dodd is chairman of the Senate Banking Committee, while Conrad is chairman of the Budget Committee and a member of the Finance Committee. The two senators refinanced properties through the VIP program in 2003 and 2004, the report said.

Others who received "FOA" loans include Alphonso Jackson, the secretary of Housing and Urban Development under President Bush who resigned in April, and Donna Shalala, who was secretary of Health and Human Services in the Clinton administration.

http://www.nypost.com/seven/06132008/news/nationalnews/loan_sleaze_spreads_115310.htm

David said...

Mozillo needs to be investigated throughly. This guy probably should be in jail.

What a douchebag!!

Anonymous said...

Keith,

Your a bleeding heart, sensationalism posting idiot.

Boom2Bust.com said...

Plenty of Mozilos running around out there.

Anonymous said...

Just curious

Does anybody know who holds St. Barry's mortgage?

Anonymous said...

In addition to your other flaws, you're an idealist, Keith.

Dodd, Conrad and even Mozilo will get little more than slaps on their wrists.

That's right.

Mozilo will NOT be going to jail.

The level of tolerance for corruption has risen to new, perverse heights in America.

Anonymous said...

CW made plenty of bad loan just like every other mortgage company out there. Even worse was New Century, WMC, Argent and Ameriquest. Everyone in the industry benefited from these loans so the Mozilo bashing while I am cetain is somewhat justified is still over emphasized. Home may LO's would be flat broke without the products that CW offered. With real products that require calculating income and actually qualifying borrowers, most lo's would have done very little business. Time to move on and find another ponzi scheme.

Anonymous said...

He won't go to jail, and even if he does, it will be of the CEO white collar variety. It'll be a picnic.

IMPEACH & JAIL BUSHCO & CHENEYBURTON said...

" Anonymous said...
He won't go to jail, and even if he does, it will be of the CEO white collar variety. It'll be a picnic."

Hey Anon asshole, ever been to jail? Why not identify yourself worm?

I didn't think so.

Incarceration is NO picnic under any circumstances. Can you understand the concept of loss of liberty? I didn't think so. Mozilo and Dodd et.al. (Boxer too if she lets this go by) need to do time no matter where or how.

THINK about it. Go back to your keyboard. Try ranting about Gay Marriage next time. You might like that better.

Jerkoff.

eckalectic said...

This is why we need John Edwards as Attorney General.

Chris said...

"He won't go to jail, and even if he does, it will be of the CEO white collar variety. It'll be a picnic."

Bullshit.

The housing smackdown needs its posterboy bitch, and Mozilo's the guy. When he's convicted he can ask the judge to be incarcerated at a specific prison, but the judge can tell him to go f**k himself and put him wherever he wants. And that's exactly what the judge will do.

Mozilo's got no power anymore. All of the buddies he helped have been exposed and needs to resign. Nobody's gonna help this asshole anymore except his counsel which will be paid handsomely to deal with this mandarin orange troll.

Anonymous said...

Mozilo sounds like a typical republican.

Scum hiding behind a suite and a tie.

Anonymous said...

No joy seeing Angelo doing the perp walk??? surely you jest, many of us want to see him flayed alive and his hide used for Gucci handbags. Trouble is I think his tanning future is probably in the Greek islands.