SEC Turns Spotlight on Countrywide CEO Mozilo

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Mart — Mon, 16 Jun 2008 11:00:00 GMT

It's too bad that the Patriot Act does not enclude "Financial Terriorists" such as these people. But this is what happens when capitalism ignores it's checks and balances and greedy loose cannons occupy CEO and board positions in business. I had a sub prime mortgage with these people. I was fortunate enough to find a local banker who took time to show me the problems I could encounter if I stayed with Countrywide. I truly feel sorry for those who live in a land of plenty and lose there homes because of people such as these.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Anonymous — Thu, 01 May 2008 11:00:00 GMT

I hope he pays for being the greedy pig he is. That said, at what point do people take responsibility for their own actions (not his employees) I'm speaking to the borrowers. We don't need MORE government regulations, we need people to understand that if you make $2,000 per month that you can't afford a mortgage payment of $1,800 per month-basic math. Quit blaming everyone else for your problems, if you levereged more than you can afford who's fault is that?

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Anonymous — Thu, 03 Jan 2008 13:00:00 GMT

I was just laid off by CW after receiving a top employee award for 2006. I hope Mozilo's millions keep him warm IN HELL.....

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Shawn — Tue, 20 Nov 2007 13:00:00 GMT

I use to be a broker for Schwab for 8 years. I now own my own little business with 10 employees. I personally would not run my company like Mr. Mozilo due to the fact I would go bankrupt. In the case of these kind of CEO's they don't go bankrupt they just rob the bank. I don't get it. How can a CEO run a company into the ground and walk away with millions?

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Thu, 25 Oct 2007 11:00:00 GMT

I worked as an accounting consultant at CW on two projects, several years apart. One thing that struck me about the top management there was its obsession with its stock. It went beyond the normal desire to have one's share price increase over time. I would be willing to bet that Mozilo and his key people would do anything to drive up the price and cash out when they thought the time was right.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Anonymous — Wed, 24 Oct 2007 11:00:00 GMT

I worked for Countrywide in a Southern CA branch, one of the most profitable in the country. The top originator in the country worked there too. I saw firsthand how corrupt this industry really is. Good loan officers weren't able to make the money unethical loan officers did, and therefore the "numbers" made these honest originators less desirable.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Sue — Wed, 24 Oct 2007 11:00:00 GMT

Cash back at closing when purchasing a property has always been against respa laws but somehow between title company, Realestate Lawyer,Loan officer and the Realtor working as a team they have found ways around the law to do so. So called loop holes. Then inturn buy another continue until they all go into foreclosure. Lets just call it what it really is stealing. Prison time anyone? We will all be paying for it. How higher rates, higher fee's.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

NJ — Wed, 24 Oct 2007 11:00:00 GMT

I work in the mortgage industry in NJ. Just a few months ago, and for several years prior to our industries troubles Countrywide would approve and fund just about any loan. Lenders in our community would turn a borrowers away for lack of income. One week later they would close with CW. They would literally close any loan. Now management is selling stock! I hope they are held accountable.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Charles Clark — Mon, 22 Oct 2007 11:00:00 GMT

Required Insider Trading reports to SEC last year for Countrywide show there was NOT A SINGLE BUY. For 12 months thru Oct 12 there were 184 sales covering 7,230,211 shrs. Several insiders were involved, Mozilo being chief among them. Prices ranged from $45 to $30 mostly, with recent sales as low as $18.38. Roughly $250,000,000. Talk about the foxes and the henhouse! Our corp and gov structures are so corrupted that only a Teddy Roosevelt can help us. Maybe Huckabee or Obama?

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Sue — Mon, 22 Oct 2007 11:00:00 GMT

When is this all going to stop? When the whole econonmy falls apart and the crooks are all living in another country living off thier spoils that we all will suffer from? This is corruption and America needs to look inward at themselves and choose on a daily basis to do what is right and honest.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Steph — Fri, 19 Oct 2007 11:00:00 GMT

This is insane, I have two mortgages with CW. They added their own insurance to my loan even though I was escrowing my taxes and insurance. The insurance they added was three times the policy I had. So if this is being done to all of their customers, I see why Mr. Mozilo's salary is 48 mil. WOW! Mr. Mozilo could care less what he is doing to the working single mom's like me. Shame on you Mr. Mozilo, what goes around comes back around. Nail him!

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

RCH — Fri, 19 Oct 2007 11:00:00 GMT

He should use some of that money and help some of the people his company stuck into predatory loans that they know would be unaffordable for borrowers. Or even better start restructing those loans back to the original teaser rates so that all of these CW homeowners can stop losing their home. He should be ashamed.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Raul — Thu, 18 Oct 2007 11:00:00 GMT

I would agree that he should be held accountable if indeed he violated the preset trading plans. He has racked in a lot of money by selling his shares but in reality others would do the same. The market is unstable and for an almost 70 year old man who has made millions now would be a good time to get out and not have to worry about the continuing down fall of the market as a whole.

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Anonymous — Thu, 18 Oct 2007 11:00:00 GMT

I hope they nail him and his cronies. That is ridiculous!

RE:SEC Turns Spotlight on Countrywide CEO Mozilo

Anonymous — Thu, 18 Oct 2007 11:00:00 GMT

This is another example of free market greed and corruption under the deregulatory schemes fostered by the neo-cons. I sincerely believe we should invoke capital punishment against these scoundrels!!!