May 13, 2009

FLASH: SEC PLANNING CIVIL FRAUD CHARGES AGAINST SERIAL MORTGAGE FRAUDSTER ANGELO MOZILO.


We knew what this criminal was up to since 2005, and SHOUTED from the top of our lungs for the SEC to put a stop to it.

They didn't.

It's now 2009, the damage has been done, trillions and trillions have been lost, millions of lives have been ruined and the world economy is in tatters.

And the Orange One finally gets some civil charges thrown his way. In other words, maybe he'll have to pay back some of his ill-gotten gains.

It's a start. Just a start. Wake me up with the CRIMINAL charges are filed. THEN and only then can we start the victory dance.

And a personal message to Angelo Mozilo: Go f*ck yourelf Angelo. You are scum.


Report: SEC staff seeks fraud case against Angelo Mozilo

Staff at the Securities and Exchange Commission have decided to recommend filing civil fraud charges against Mozilo, according to people familiar with the investigation.

The SEC sent a so-called Wells notice to Mr. Mozilo several weeks ago alerting him of the planned charges, the people said. The potential charges include alleged violations of insider-trading laws as well as failing to disclose material information to shareholders, according to one person familiar with the matter.

30 comments:

Afterthought said...

Revenge is a dish best served cold.

Anonymous said...

Greg Swann going into foreclosure and Angelo Mozillo gets charged

Yes, a good week indeed

Anonymous said...

Any of you that sold at the top knowing that it was all BS are no better than him - you knowingly screwed people over too.

Anonymous said...

http://www.dailyfinance.com/2009/05/13/angelo-mozilo-likely-to-face-insider-trading-charges/

Batman said...

Hope this snowballs...

Anonymous said...

Once again I'm not in favor of criminal charges for financial crimes, only >>100% reimbursement of all monies lost. If this exceeds the defendant's current holdings, then criminal charges may proceed.

Paul E. Math said...

Meanwhile this criminal roams free and rich as Croesus.

It turns my stomach.

Prisoner No. 6 said...

The civil suit is just a way to fish around to see what Mozilo does when his money is threatened. To see what kicks loose - it's like when cops pull a car of thugs over and start insulting them,to see what kind of flex they show.

The minute criminal charges are filed, all kinds of things happen: the prosecution has to be ready to roll immediately, or a good defense attorney can get it all kicked and thus taint any other future case.

And be sure that the Orange One has retained the most expensive attorneys his ill-gotten gains can get him. Imagine going in front of the kinds of mouth-breathing Southern Cal juries we get here in LA with a half-assed, thrown-together case, prosecuted by the same kinds of dingbat attorneys who booted the Ted Stevens prosecution.

As bad as all the waiting has been, turning things around at the US Attorney's office from the incompetent Liberty University, "hired only because they're good Christians, not becasue they know anything about the law" idiots - is not an overnight job. Far from it.

The Orange One is crafty. Nailing him to the wall is going to take a careful, patient prosecutor with the balls of a bandit and icewater in his veins. Not some political hack appointed just because daddy kicked in a couple hundred K to Bush's campaign slush fund.

Whatever comes out of this SEC filing will be added to the eventual criminal case.

Give things time to work, Keith. But don't stop turning up the heat to get things moving...

Anonymous said...

Class Action lawsuit.

Ever American citizen who pays taxes is eligible.

Where are you lawyers?

Get your heads out of your asses and screwed on straight.

Here's your Fucking Rainmaker. Once in a Career Life to really get RICH.

FUCK YOU Ange.

They are coming for YOUR THUMBS BITCH!

wind solar and sugarsnaps said...

Damn that dude is orange!

i've had it said...

Finally some movement...but way too late. Enough damage has been done to the credibility of the U.S. Govt. that it will not stop the dissection of the the duopoly parties (the Dems and Repubs) by the Tea Party. The Tea Party is the way of the future and will replace the crooks who are the Dem and Repubs.

Angelo, your time is coming...hard time!

Anonymous said...

What a difference a couple of years makes.

Bout time.

Anonymous said...

The move represented a sharp reversal from Obama's repeated pledges for open government"...Federal appeals judges have ruled, in a Freedom of Information Act lawsuit filed by the American Civil Liberties Union, that the photos should be released...

...The total number of photos to be released was expected to be in the hundreds...isolated incidents...

...Top Republican members of Congress welcomed the move...said Senate Minority Leader Mitch McConnell..."...I applaud him for it."..."

Lawless. Nation.

Anonymous said...

and what about all those middle managers at countrywide who obeyed the Fuhrer and wrote approvals for those bad loans, can't we have a Nuremberg Trial for them as well? Let's get them!
I'm tired of guys still bragging about how they wrote the bad loans and are employed elsewhere now and still living in big expensive houses.

RICO said...

This is a bullsh*t move by the SEC.

The real action involves collusion/kickbacks at the Atlanta FHLB and conspiracy charges involving *key* members of the NAR/REIC.

Not to mention bribery/kickbacks involving Freddie/Fannie, OTS and *key* congressmen...

The Justice Dept is dragging its heels on this prosecution -- there's extensive government complicity.

Anonymous said...

he is scum
he hates America
he hates American families
a stoning death is not warranted
half stoned to death every day for a 1000 days is

with rocks not crack

then again get him addicted to crack and set him free in the bronx
with no money or id
let real Americans deal with him the American way

this man hates America
and he hates Americans

Lost Cause said...

Civil fraud charges? He won't be going to prison for that. And then even if he is guilty, he cannot face charges again.

alex3191 said...

hey, how are you guys today ?! feeling good lately ... nice ..

http://www.truthin08.org/

you shall know the truth and the truth shall make you mad :)

Anonymous said...

Nothing gonna happaned to the orange dude U guys will see.

alex3191 said...

off topic :
"Latvia's Economy Collapses 18% in First Quarter"
http://www.cnbc.com/id/30680321

well, the next Island , from Europe, with love :))

Anonymous said...

Keith's April Fool joke now may be reality.

danm said...

Any of you that sold at the top knowing that it was all BS are no better than him - you knowingly screwed people over too.

------------------
It all depends on what you do with your profit.

Batman said...

To anon 12:12 - the punishment for stealing should be to give it back? WTF?

Try this game theory dude: You steal a car, there are two outcomes 1) you get caught, return it and go free, 2) you don't get caught you get a free car and you go free.

So on each attempt you have a chance of a new car and no chance of penalty. I want to be a car thief in that world.

God help us if your idea ever became law. We could call it "The Orangeman Open Season on Theft" law.

Anonymous said...

"...Any of you that sold at the top knowing that it was all BS are no better than him..."That's rich; equating personal insight in individual real estate deals to the fiduciary responsibility of the biggest financials in the world representing subprime as AAA.

Or to the criminal law that loan officers violate when they allow clearly falsified loan apps.

"...I'm not in favor of criminal charges for financial crimes, only >>100% reimbursement..."HEAR HEAR: this is the critical issue; one that will be totally overshadowed by largely-meaningless law enforcement shenanigans.

This is a lawless society for those of means; easily demonstrated/acknowledged for the even slightly honest. What is a corporation really, if not but a legal fiction to escape liability for one's actions?

Limited Liability Corporation.

Meanwhile "tort reform" to gut class action, limiting malpractice awards, limiting personal bankruptcy...

A more cynical person might detect a trend.

Everything is the middle class individual's fault. Profits are private and losses are public property.

Anonymous said...

Batman-

Perhaps I should clarify >>100% for non-engineers; it means much greater than 100% - not 101% but 150% or 200%. If you steal a car, you have to return two cars. People would welcome car thefts. The problem with criminal prosecution for financial crimes is often times after they do the 2 years in jail, and pay the $100,000.00 fine they are left with millions free and clear. I say drain the bank account, garnish all future wages, perhaps even forced labor (but this is a slippery slope), until the victim(s) is(are) whole and then some.

Anonymous said...

Mozilo - Let's get him!

http://www.latimes.com/business/la-fi-mozilo14-2009may14,0,4899015.story

Anonymous said...

Batman,

>> does not mean "equal to".

Batman said...

OK, that makes more sense.

Ironically, I do have a PhD in Engineering, but didn't know you were using >> for that. 10-4.

Anonymous said...

BULLETPROOF

(but maybe catching the edge of the jacket. We shall see.)

Markus Arelius said...

Too little. Too late.

If I'm Angelo, I'd get all my cash together and fly down to Chiapas. Stat.