Skip to main content

And What About Angelo Mozilo's Deputy Tanning Bed Repairman, Huh? How'd That Crook Get Off Scott Free?

  • Author:
  • Updated:

As you've likely observed, we're kind of in the toilet here. And while sitting around blaming people for getting us to this point probably isn't the *most* productive use of our time, it feels pretty good, you know? Like, yeah, focusing on a solution would be nice, but it's no match for what it feels like to, I don't know, leave a bag of excrement on someone's front porch, or key his or her car. The psychological benefits of slashing some tires, or spray painting a big "You Suck" across his or her face can probably explain why Treasury Secretary Geithner has staffed an intern with compiling a comprehensive list of addresses for the homes of somewhat recognizable names across the financial services industry, and "on average, when we can expect them to be there." But if we're going to do this, we need to do this right, which is to say, please refer to the list just put out by Time of the "25 People to Blame for the Financial Crisis." Anyone unfairly listed? Anyone missing? Off the top of our heads, we're not sure "American consumers" goes far enough; how 'bout "mankind"? And also, why the hell isn't Corey Haim's listed? That boy's gotten a pass for too long.

1. Angelo Mozilo
2. Phil Gramm
3. Alan Greenspan
4. Chris Cox
5. American Consumers
6. Hank Paulson
7. Joe Cassano
8. Ian McCarthy
9. Frank Raines
10. Kathleen Corbet
11. Dick Fuld
12. Marion and Herb Sandler
13. Bill Clinton
14. George W. Bush
15. Stan O'Neal
16. Wen Jiabao
17. David Lereah
18. John Devaney
19. Bernie Madoff
20. Lew Ranieri
21. Burton Jablin
22. Fred Goodwin
23. Sandy Weill
24. David Oddsson
25. Jimmy Cayne


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.


Angelo Mozilo Can Finally Stop Looking Over His Super-Tan Shoulder

Free at last, free at last! Thank political inertia almighty, Angelo Mozilo is free at last!