Former CFC Chief Angelo Mozilo Settled Charges

Monday, October 18, 2010, 3:55 AM | 5 Comments

Who the f****** shit is Angelo Mozilo? You know, we often never hear about some executives and we don’t know “nothing” about them til we read in the paper either they settled out of court [whatever that means – my friend from the 60s says it means NO JAIL] or they were tried, convicted and sent to jail. We are told that in 2007, Countrywide Financial Corp (CFC) was worth more than $25 billion but a year later Bank of America bought it for $2.5 billion. Talk about bargain.

A year before BofA bought it, CFC was flying high. It seems now that it was flying high not on truth but on lies from the beginning til its demise when BofA changed CFC name and merged it in their business, never to be heard from again. The former chief was accused of embezzlement the company’s money. That means he along with two other executives pocketed money that never belonged to them.

What kind of people would pocket money in millions that does not belong to them? Only scums, crooks and schmucks. We don’t know them til we know that they are thieves and robbers. And you know what? They have built mansions and drive in chauffeured limousines on the backs of the financially dead but otherwise decent and respected folks.

The problem is that some have no remorse and no regrets. The chief scumbag Mozilo will pay $22.5 million civil penalty, plus $45 million in disgorgement. The disgorgement relates to proceeds of Mozilo’s sales of Countrywide stock. Mozilo was once one of the best-paid U.S. corporate executives. So far it seems that the three schmucks would avoid jail. Madoff went to jail for 150 years because he deceived the rich whereas these three crooks deceived the relatively poor.

The watchdog, otherwise known as SEC, contends Mozilo made nearly $140 million by dumping Countrywide stock before the truth emerged. The out of court settlement would cost the chief a total of $67.5 million. What happens to the difference of $72.5 million? Who knows?

Now you gotta ask yourself a question. Did he fire six shots or only five? You know in all this excitement, SEC forgot.

In a Nutshell
I read this news yesterday. Today is still a little early. The court is not in session yet. We might know about another scum by the end of the day. Tomorrow there will be another such story. Where and when is it gonna end? And tomorrow is another day the court never plans. Stay tuned folks!

Throw us a like at

  1. 5 Responses to “Former CFC Chief Angelo Mozilo Settled Charges”

  2. By eastlandgrl on Oct 18, 2010, 10:24 am | Reply

    interesting, thanks

  3. By Hester Landu on Dec 6, 2010, 2:58 am | Reply

    This weblog seems to get a good ammount of visitors. How do you advertise it? It offers a nice individual twist on things. I guess having something real or substantial to say is the most important factor.

  4. By chat on Dec 7, 2010, 5:59 pm | Reply

    good quality post thanks

  5. By fat burning furnace review on Dec 7, 2010, 9:46 pm | Reply

    Just a fast hello and also to thank you for discussing your ideas on this page. I wound up inside your weblog right after researching physical fitness connected issues on Yahoo… guess I lost track of what I had been performing! Anyway I’ll be back as soon as once more within the long run to verify out your blogposts down the road. Thanks!

  6. By Restaurant Coupons 2011 on Aug 3, 2011, 5:16 pm | Reply

    I totally agree! I came over from google and am looking to subscribe. Where is your RSS feed?

Post a Comment on Content of the Article


This is not a billboard for your advertisement. Make comments on the content else your comments would be deleted promptly.

CommentLuv badge