Countrywide CEO Angelo Mozilo nearly started crying at the last CFC shareholder meeting. The salty discharge was overshadowed, comedy-wise, however, by the Moz’s promise– and he actually said this– that Bank of America “will reap the benefits of what we have sowed.” If that is not the greatest veiled threat EVER uttered, I don’t know what is. And you know he wanted to continue with something like, say, “Those suckers don’t even have a clue what they’re in for. Seriously, the long-term effects, merely taking lawsuits into account, will be not unlike having a scalding hot poker violently inserted where the sun don’t shine. [pauses for effect] They might as well have bought an asbestos company. In fact? Probably would’ve been better off doing so. Honestly, though, this deal is like getting a very expensive answer to the question, ‘what does it feel like to be ass-raped for an eternity?’ [shakes head at the thought] Anway, I see we have leaf cookies today, is that new? Man, I’m going to miss this shit.”
At Countrywide’s End, an Emotional CEO [BusinessWeek]
Comments (13)
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I should have gone to law school…
I just dropped out…kicking myself
Bess, Kudos to you. Fantastic analogy you used there. We also would have accepted “butt-bludgeoned” or “fudge-packed” for eternity.
Completing this acquisition is like continuing to date Glenn Close after she’s boiled the rabbit.
Goddamn you are funny. Day in and day out. Incredible.
that was very, very funny….i can’t stop laughing.
Moz did not stray far from his Dad’s business: butcher.
haha well written….and i swear i was gonna type that before i saw all the other complimentary posts…quality stuff…
The weird part is, first my local bank got absorbed by BoA, then my mortgage company.
All of their websites suck, but they suck in different ways. I look forward to suck consolidation, which will allow me to have to use only one suck workflow to attempt to pay my mortgage whilst simultaneously balancing my checkbook and Keeping The Change.
Actually I’m not gonna sign up for that Keep the Change business. That just smells like a scam. Like we’re all going to keep our receipts and make sure it’s not “okay, the purchase was 39.88, here’s eleven cents for your savings account. Penny? What penny? Do you think we’d screw you over for a penny? I mean, we’d have to handle millions of transactions a day to make any money doing THAT.”
M
Does someone at the Fed have photos of Ken Lewis or something? Why is this still happening? Although, BofA is in good company, major Street firms continue to deal with C’wide, can’t get off the Kool-Aid.
As a 17 year CHL employee I find Mr. Mozilos’ actions over the last 5 years as disgusting as anyone…. but the question is…. what about all of the speculative investors who lied about income, misrepresented their occupancy intentions and then walked when the market tanked? Or how about the government’s role in all of this? They weren’t complaining about lending policies or sub prime lending when the mortgage and housing industry combined with mortgage backed securities trading was being used to build an economy out of smoke and mirrors. There’s blame all around here but everyone seems to only be pointing at the lenders.
Everyone else did it once or twice, kind of like testing drugs…
you guys made a living at the system (that makes you the drug dealer)…
deal with it…
Your the prostitute blaming the johns for paying for a quickie… Everyone wants to get laid, your making the cash flow from the act… accept it…
it sounds like incoming analysts from the combined MER/BAC class are okay… any more insight?