He might be out on the street 'cause he was hammered for forty some-odd years. Even though Angelo Mozilo's religious devotion to "Star Search" might still save the old guy, EMcM's manager, Johnny Podell is covering his bases, telling Page Six, "You drink and you don't pay attention to your business affairs. [Ed] wasn't paying attention and probably got some bad advice...[he] needs a break." Having already set a precedent for bailing out people whose substance abuse problems got them in some hot water when they weren't paying attention, this sounds like a charity case the Fed ought to at least consider.
Liquid Drain [NYP]