Comments on: Angelo Mozilo: “Back of the Bus”

By: TheTradingReport » Blog Archive » Angelo Mozilo: A Public Sector Creation

Sat, 27 Jun 2009 16:16:29 +0000

[...] Barry Ritholtz, who originally plucked out both of the above chunks from the article concludes that this all [...]

By: impermanence

impermanence — Sat, 27 Jun 2009 03:41:03 +0000

Whether it is private greed or moronic social engineering (government), the aim is always the same, that is, to separate as much labor-power from the populace as is possible. Man and his nefarious institutions have come up with a million and one methods to this end, the housing bubble being the 1,000,002nd.

By: ubiktwo

ubiktwo — Sat, 27 Jun 2009 02:47:23 +0000

I find this startling– the last thing I thought of Mozilo was that he had a very human side. It gives you pause on how complex lending is and dealing with baked in bias. Despite the wreckage– I would have never guessed that he was capable of self-reflective and concern for equality at a basic level. And within that bias of his front line loan officers a business could be built by serving folks.

I am dumbfolded– in this corner hats off to Mozilo.

By: CaptiousNut

CaptiousNut — Sat, 27 Jun 2009 02:10:33 +0000

The fact is, Big Government inflated the low-end, which set off a snowball of *move-up* buyers all the way to the high-end.

BR is dead wrong here, still.

The events of this past year or so, IMO, have proven that Big Business OWNS Big Government, i.e. they are one and the same.

Whether motivated by *profits*, *greed*, or *stupidity*….we’re only talking about one protagonist here.

By the way, I know plenty of people of all sorts of ethnicities that don’t *tan well*. You know what they do? They stay out of the sun.

By: Andrew Krone

Andrew Krone — Fri, 26 Jun 2009 20:07:16 +0000

Also from Wikipedia:

On June 4, 2009, the U.S. Securities and Exchange Commission charged former CEO Angelo Mozilo with insider trading and securities fraud

By: Mannwich

Mannwich — Fri, 26 Jun 2009 20:05:37 +0000

@karen: And they’ll also be shorting THIS market on the next big downleg when the “all-clear” is given by Lispy Lloyd and the feds.

By: Andrew Krone

Andrew Krone — Fri, 26 Jun 2009 20:03:10 +0000

Seriously? Mozilo used pulled the race card? Give me a break. Like most CEO’s Mozilo cared only about the bottom line. Maybe “nobody wanted to work with” him because he was a crook.

By: cvienne

cvienne — Fri, 26 Jun 2009 19:40:16 +0000

@CNBC

“I have asked Cranky to run for the Senate”

You wouldn’t ask poor BR to go over to the “dark side” (political office) just for our sake would you?

Besides, such a move would make us DE FACTO “lobbyists” at that point…I shudder at the thought!

By: robberbaron

robberbaron — Fri, 26 Jun 2009 19:17:01 +0000

I totally DISAGREE that this was primarily the fault of the private sector. This example is anecdotal evidence. What about the fact that Fannie and Freddie were compelled to loosen all their standards and ratios in order to accomodate more and more subprime loans? If Fannie and Freddie weren’t compelled to buy all the junk loans from Countrywide, WAMU, etc, then this couldn’t have gotten THIS bad.

~~~

BR: FUnny, it was Angelo Mozilo who went to FNM/FRE and insisted they lower their standards and take his subprime junk. He threasteneed to take ALL of his biz elsewhere if they refused

By: CNBC Sucks

CNBC Sucks — Fri, 26 Jun 2009 19:09:25 +0000

Oops, I should read these threads more carefully. Everybody on this blog seems to be largely in agreement that fundamental change needs to happen, and even the progressives and Libertarians (as much as I tweak them) seem more or less on the same axis. I have asked Cranky to run for the Senate because I am getting tired of discussing this crap on a blog and I want him and us to do something about it.