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Intolerantcentrist
No thanks…I brought my own air.
10:02 PM on 10/16/2010
The civil penalties of Mr. Mozilo and even Goldman may be records, but these are misleading as to the degree of restitution or as disincentives for future fraudulent corporate decisions. Mozilo will have to pay only $22.5 million of the total $67.5 million in penalties to settle civil fraud and insider-trading charges. Considering that $250 million of compensation from 1998 through 2007 and the profit of the sale of Country Wide stock estimated at $406 million puts Mozilo’s “penalty” into some perspective. It would seem that although Mozilo ran his company into the ground as a result of his fraudulent actions, his personal compensation is disengaged from his company’s failures. This is the clear sign of a “control fraud”. It is not much of a stretch to apply the same rationales of Mozilo’s scheme of bankruptcy for profit to much of our financial / banking sector.
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mannapat
Truthiness shines a light.
11:11 PM on 10/16/2010
His business charter should be revoked, and his personal assets should be used for complete restitution...and then...go to jail.
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jimmyaj
I don't need no micro-bio...
09:36 PM on 10/16/2010
So, what? Mozilo will have to pay $67 million when, and if, all this dust settles? Didn't he walk off with ten times that much? or was it twenty... or a hundered times? Whatever...
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Siebenstein
09:34 PM on 10/16/2010
I look at Mozilo's face and I am thinking 'Gotti'.
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loki
cheap politicians for sale
01:52 AM on 10/17/2010
Gotti looks at Mozilo's face and is thinking " Crook"
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futbol4fun
A lot of you are too obtuse to understand sarcasm
09:11 PM on 10/16/2010
This is further proof that we have the best legal system money can buy.
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Neil Plascencia
08:59 PM on 10/16/2010
I could be wrong but....Maybe this is why they needed TARP, they were not failing but instead needed to lie so that they could legally steal this taxpayer money because they knew this was coming!!! How else do you think they were going to pay for this??!!??
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anastasiabeaverhousen
Time wounds all heels
09:09 PM on 10/16/2010
67mil is chump change compared to the BILLIONS they got via tarp
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TeeLolly
08:54 PM on 10/16/2010
The SEC looks after its own. Although the settlement sounds like a lot of money, something tells me that there could have been a much steeper jury verdict (assuming a jury of ordinary people rather than equally guilty banksters) ... not to mention a pathway to prosecution.
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vippy
Carpe Diem!
08:43 PM on 10/16/2010
Okay, take this 67.5 million dollars and apply it towards the COLA for seniors. What is the problem. It will disappear with all the other huge fines government collects for whatever reason and no one ever will know what happened to it.
Buford2k10
Hair today, gone tomorrow
08:33 PM on 10/16/2010
Hey Eric Holder, these are the guys you should be after, not some pot smokers in California
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donbrown
A television producer in Hawaii
08:24 PM on 10/16/2010
This guy got off cheap...I'd rather see him behind bars where he belongs.

Good God his skin looks like it's made of "Corinthian leather"... move over Keith Richards.
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anastasiabeaverhousen
Time wounds all heels
09:10 PM on 10/16/2010
It's more like that crinkly Mercedes leather!!!
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hatrickpenry
stepping on academia nuts
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ziger123
All you need is unconditional love and acceptance
07:00 PM on 10/16/2010
It's time to err on the side of our friends and neighbors in America NOT the banksters who are stealing homes from families everyday. The mortgage and banking industries need to be held responsible NOT allowed to walk free!
Our SEC has nothing to brag about, these frauds should have been put on trial and sent to prison. They got off because they've got a lot of money backing them including company escrow ill gotten gains to pay the fines! Now they can go and start another scam since all they got was a slap on the hand. www.sec.gov/contact/addresses to write or call and let them know this is not acceptable!
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Tiggy
07:36 PM on 10/16/2010
Agreed, and what is this about "he has no obligation to pay" nonsense? We are paying the price and so should these execs!
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Lahonda
Bynocent Instander
06:59 PM on 10/16/2010
Brother Mozilo has taken a fall. I hope manages to retain his skin on the way back up to the bottom of the American gene pool. ...and tight skin it is!
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jimmyaj
I don't need no micro-bio...
09:39 PM on 10/16/2010
...and tight skin it is!

Would make a couple of great lampshades, huh?
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jimmyaj
I don't need no micro-bio...
09:49 PM on 10/16/2010
Probably tighter than his wallet and definitely tighter than his ass... One doesn't just "get there" without dispensing a few thousand blowjobs along the way
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SpeakSense
06:44 PM on 10/16/2010
Why should he get to buy his way out of trouble? Unless Angelo Mozilo is living in a prison cell, there is no justice in this settlement. His actions and the actions of those like him have impacted and caused suffering for thousands of Americans directly and millions of Americans indirectly. No justice here at all.
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ziger123
All you need is unconditional love and acceptance
07:09 PM on 10/16/2010
Write or call the sec at www.sec.gov and let them know that a fine he doesn't even have to pay with his own money is NOT acceptable. The man is walking away FREE, no fines he has to pay with his own money, no jail time, no probation - FREE!
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BraveWarrior
The truth will set you free, like it or not
04:45 PM on 10/19/2010
This was a civil case, let's see what the justice department does about the criminal case. Perhaps they will act before the midterms, but don't hold your breathe.
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smallmouthbass
06:14 PM on 10/16/2010
And the 'friends' of Angelo nod & smile in approval...
06:09 PM on 10/16/2010
Lock up Angelo Mozilo

and throw away the key !