What The Hell Just Happened On The Countrywide Call?

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We were listening in on the Countrywide conference call just now—mostly because we didn't know that David Gaffen was liveblogging it so we don't have to—and about four minutes into the thing everything goes haywire. A full minute of what sounds like static and lambs or babies screaming. We just assumed it was a subprime phone line or that Angelo Mozzillo's self-tanner had leaked into the telephone console.
But a reader writes that what actually happened was that somebody hacked the call and started yelling "Mozillo is a criminal." Anybody else hear that part? Can a brother get a confirmation?
Tilt. Another reader asks: "Is Angelo Mozilo's tan getting darker from heat he's taking from the Board, or is it the radiant energy coming off his rapid fast CFC sell execution orders?" He puts it at 50/50.
Update: Countrywide shares up a gazillion percent. The market loves endless conference calls!
Live-Blogging the Countrywide Call [Market Beat]


Angelo Mozilo: Countrywide Was The Cadillac Of Mortgage Lenders

In June 2008, Countrywide founder and CEO Angelo Mozilo stood before a group of CFC shareholders and, through salty tears, told them that Bank of America would "reap the benefits of what we have sowed." He wasn't kidding, and in the 4+ years since Ken Lewis paid $4 billion for the place, BofA has had the pleasure of ponying up an additional $40 billion (and counting) in write-downs and legal fees associated with cleaning up Countrywide's messes, while CEO Brian Moynihan has publicly described the acquisition as an albatross around his neck. Additionally, Ang Moz forked over $67.5 million in 2010 to "resolve SEC claims that he misled investors," and separately, there has been talk by some that Countrywide contributed in no small way to the worst financial crisis since the Great Depression. In light of all that, does Ang Moz, have any regrets about the way his company was run? Not a fucking one and if he had to do it all over? He wouldn't change a thing.