Why Didn't the Post Headline Say 'Home Mo' Goes Down?'

Posted by Bess Levin, Jan 30, 2008, 11:00am

mozillo post.jpgThere’s a shocking story in today’s Post about how Countrywide’s Angelo Mozillo said the company would be profitable in the fourth-quarter and—HOMG—it wasn’t. An investor in Georgia is “a little bit disappointed” that he lost $3,200 and a lot of people are just plain hurt that they were taken for a ride (in AM’s red Iroc, whose plates read: ‘mohazard’). The shocking part is that the paper is supposedly surprised that Mystic Tan man would lie about the mortgage lender’s outlook, even though it’s been established for some time that Ang. would, in his own words, “screw you for a nickel, or a used tanning bed and some UV goggles.” We’d expect this sort of bright-eyed innocence from Andrew Ross Sorkin or Don Klarney but the Post? You guys are supposed to be better—and more versed in jabroni—than that. Oh well. You know we can’t stay mad at you for too long. Not when you’re turning out graphics like that.

No Bottom Yet [NYP]

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Posted in: Countrywide

Comments

Posted by , Jan 30, 2008 11:07AM

what is jabroni?

Posted by true, Jan 30, 2008 11:13AM

the post is killing itself for not having gone w/ that headline.

Posted by , Jan 30, 2008 11:18AM

Thank you Bess. You brought a smile to my face despite the financial armageddon we are in.

Posted by Anal_yst, Jan 30, 2008 11:21AM

Wait wait wait a second, you mean to tell me Executives paint rosy outlooks all the while knowing they have effectively zero chance of attaining such positive results?

Posted by InkPen, Jan 30, 2008 11:40AM

400mm in stocks options over the years, a 100mm parachute (who cares that he gave some back) and all i get is spewing hate from the general public? i can live with that. wheres the sign in sheet?!

Posted by oh well, Jan 30, 2008 11:53AM

What I find amusing is that Orangejello Mozilo sold over $450 million in stock during the subprime/CFC stock run-up and now only holds $9 million in CFC stock....hmmm what did he know .... but of course that would have been worth $62 million if CFC was trading $45 .... poor boy

Posted by , Jan 30, 2008 12:00PM

Hah whatever dude if you had your entire net worth in options of a company you built from the ground up that was skyrocketing like CFC you would be exercising your options with strikes under $5 too,

the guy still owns an ass-load of worthless options from the past few years so if it makes you feel any better he is basically not getting paid for the period 2004-2007

Posted by , Jan 30, 2008 12:07PM

Guy is 70 years old, has been with the company for 40 years, and was preparing to retire. Everyone knew this was the peak of the mortgage cycle. What would YOU do in his place?

Posted by fantasytan, Jan 30, 2008 12:14PM

Is it just me or is his tan fading? so sad

Posted by , Jan 30, 2008 12:21PM

What puzzles me is he definitely knew it was the peak of the cycle in late '06 and yet what crushed Countrywide is they stepped up production of Alt-A (might as well be subprime...if not worse) loans in the Spring of '07. They had to see that the Street's securitization machine was starting to shutting down. So why the heck did they keep cranking the product out with nowhere to go with it?

Posted by oy vey, Jan 30, 2008 12:21PM

I may be wrong, but isn't he Italian instead of Jewish?

Posted by girl, Jan 30, 2008 12:25PM

his tan doesn't fade, it crusts off in one piece like a lizard's and he just steps out of it all shiny and power shirted up underneath

Posted by , Jan 30, 2008 12:25PM

How on earth did they find some guy in Marrietta, GA for this article? When Q4 earnings came out, stock was about $17/Share. Since it's hit lows in the $5-$6 range, and this dude only lost $3,420? What's next, interviewing the kid in my office who get's fired up about his 10 lot of AAPL?

Posted by oh well, Jan 30, 2008 12:28PM

said neither right or wrong ... just amused ... way to over-think things ... you're pretty amusing too

Posted by , Jan 30, 2008 12:32PM

Good point made by 12:25. Have you watched The Wire this year? The story line with the aggressive reporter making up sources and interviews? You have to wonder if the guy in Marrietta GA even exists.

Posted by , Jan 30, 2008 12:44PM

the wire is the best show on tv. yes, angelo is italian, not jewish. no, he does not really own much Alt-A as i recall they were selling even subprime residuals off during 06-07. more problem is whats in the bank which is all "prime" stuff e.g. option arm and prime home equity as ironically that is what the regulator would allow

Posted by Nominate me, Jan 30, 2008 12:59PM

@ Anal

I was expecting that comment from one of my favorites, the "Forehead Slapper".

Posted by 2008, Jan 30, 2008 1:13PM

I am voting for Ron Paul because I still have hope for America

Posted by , Jan 30, 2008 1:14PM

and I am voting for insanity because i still have hope for ron paul

Posted by Anal_yst, Jan 30, 2008 1:19PM

@ Nominate

It was just too easy to pass up the opportunity, my bad

@ Ron Paul freaks

If by some freak accident he wins, will you all promise to finally drink the Koolade?

Posted by series7.5, Jan 30, 2008 1:54PM

the thing i love about ron paul's campaign is he has so much money, and such a poor organization, that has no way to spend the campaign fund and he will probably be with us all the way through primary season and his supporters will continue to insist that he has way more support than he really does.

what happens to all that money once he is officially not nominated anyway?

Posted by Carter Pewterschmidt, Jan 30, 2008 1:56PM

Vote Ron Paul on February 5th.

He'll be the first name on the ballot, you can't miss it.

Posted by , Jan 30, 2008 2:04PM

My stats show that 8.33% of all Dealbreaker posts degenerate into Ron Paul discussions in the commentary

Posted by , Jan 30, 2008 2:16PM

Who is Ron Paul?

Posted by Carter Pewterschmidt, Jan 30, 2008 2:37PM

@1:54PM Yes, and it's tragic. The big pile of money that flowed into his campaign yielded absolutely no increase in the polls. They're the most inept campaign staff I've watched.

@2:04PM Vote Ron Paul. Ron Paul for President.

@2:16PM www.ronpaul2008.com

Posted by ccs, Jan 30, 2008 2:41PM

who fucking cares?

love the comment about moz stepping out of his tan crust. classic.

Posted by , Jan 30, 2008 3:00PM

Does anyone know how many times I can vote for Ron Paul?

I would vote for him one million times if i could

Posted by no ron paul 4 me, Jan 30, 2008 11:02PM

...because Ron Paul wants to legalize marijuana that's why....

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