Angelo Mozilo

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Angelo Mozilo: Get’s Away With It

By TheDoomNews on | From thedoomnews.com

This lowlife is the poster child of the Real Estate bubble. One of the greatest snake oil salesmen of the entire Ponzi scheme – except for maybe, Madoff and many of our politicians. He made over a Billion dollars wheeling and dealing his own brand of the not so distant savings and loan alchemy. No-Doc loans, the more the better; he knew the government would buy them all through Freddie Mack and his sister. With his special relationships within government, Senators, Treasury Secretaries, there was no stopping this hall of fame snake oil salesman, he had it all covered. Mozilo sold $140mm worth of shares while he and his Corleone family of banksters cooked the books to keep Countrywide’s share price afloat, even as they knew the company was insolvent. Why did B of A ever buy these guys (oh, they had other things to hide). For these misdeeds he gets fined $67.5mm in which Bank Of America will pick up most of the tab. All we say “not bad Mozilo, you are now the poster child Bankster!” Pretty much steel $1.3 billion dollars, pay a small fine, and disappear to live life happily ever after, not bad.

How do these guys keep getting away with this ***t? Transform the whole economy into one giant ponze scheme, and then allow all the leaders of the ponzi scheme to walk. Nothing will change until white collar criminals are prosecuted. One of the reasons people have no trust in the system is because they watch the so called “business leaders” game the system, break laws and ethics, with no consequences. Why should they pay their over inflated mortgage/house during the worst economy in generations in which many of the banksters are rewarded for their criminal behavior. What ever happened to rewarding the hard working honest man who still believes in Horatio Alger. We truly don’t see this Ponzi scheme ending well. You could not make this ***t up, its crazy.