CommunityFDL Main Blog

Touchy and Feely

And all of them, rather inappropriate.

Anthony Mozilo spent much of the 1990s and early 2000s building up Countrywide into being the nation’s number one Ponzi Scheme subprime lender…(strike the strikeout).

So, on reflection how’s he feeling? One would think if he is not a sociopath, sort of bad.

So you know how this will go.

Six years after he lost control of the largest mortgage lender in the U.S., and days after news that the U.S. Attorney’s Office in Los Angeles plans to sue him, the Countrywide Financial Corp. founder is baffled by a new effort to punish him, proud of past triumphs and incensed by criticism.

Oh those accomplishments.

He remains a defender of Countrywide, even after Bank of America Corp., which bought it in 2008, agreed last month to pay more than $16 billion to end probes into mortgage-bond sales on top of about $55 billion in fines that came before. Mozilo doesn’t understand why he and his firm, blamed by lawmakers and authorities for lax underwriting and predatory lending, have been seen as villains.
Photographer: Jay Mallin/Bloomberg

Angelo Mozilo, former chief executive officer of Countrywide Financial Corp.

“No, no, no, we didn’t do anything wrong,” he said

Yes, he didn’t do anything wrong…and never earned a dime he doesn’t think he deserved.

Mozilo’s compensation during the United States housing bubble of 2001–06 has come under scrutiny. During that period, his total compensation (including salary, bonuses, options and restricted stock) approached $470 million.

But still what a guy.

Two of his friends, former Countrywide director Robert J. Donato and fellow mortgage-industry veteran Howard Levine, praised his spirit. Levine, a friend for at least 50 years, said Mozilo gives a $5 bill to each homeless person he sees on New York’s Fifth Avenue when they visit from California.

Previous post

Domestic Abuse – And the Winners are…

Next post

Obama Sends 350 More Troops To Iraq, ISIS Executes Second American In Response To Bombing

Attaturk

Attaturk

In 1949, I decided to wrestle professionally, starting my career in Texas. In my debut, I defeated Abe Kashey, with former World Heavyweight boxing Champion Jack Dempsey as the referee. In 1950, I captured the NWA Junior Heavyweight title. In 1953, I won the Chicago version of the NWA United States Championship. I became one of the most well-known stars in wrestling during the golden age of television, thanks to my exposure on the Dumont Network, where I wowed audiences with my technical prowess. I was rumored to be one of the highest paid wrestlers during the 1950s, reportedly earning a hundred thousand dollars a year. My specialty was "the Sleeper Hold" and the founding of modern, secular, Turkey.

Oops, sorry, that's the biography of Verne Gagne with a touch of Mustafa Kemal.

I'm just an average moron who in reality is a practicing civil rights and employment attorney in fly-over country .

18 Comments