I just want to fucking scream...

[Subdivisions]

LOS ANGELES—Confidential talks begun in recent weeks appear to be moving toward a settlement in the Securities and Exchange Commission's high-profile civil fraud case against former Countrywide Financial Corp. Chief Executive Angelo Mozilo and two other former executives, people familiar with the matter said.

Associated Press

Former Countrywide chief Angelo Mozilo, shown in a 2007, was charged with insider trading regarding his sale of nearly $140 million of stock.
.Late Thursday, a status conference on the case was ordered for Friday, a move that could signal a new development in the suit. If no agreement is reached, a jury trial is scheduled to begin Tuesday in federal court here before Judge John Walter.

It is also possible, people familiar with the matter said, that only one or two of the defendants would reach a settlement before the trial. Attorneys for both sides are preparing for trial in the event it goes forward, said people familiar with the matter.

An SEC spokesman declined to comment. Attorneys for Mr. Mozilo and the two other defendants, former Countrywide President David Sambol and former finance chief Eric Sieracki, didn't respond to requests for comment. The defendants have denied any wrongdoing.

...snip...

http://online.wsj.com/article/SB10001424052748703631704575552603458122306.html?mod=WSJ_hpp_MIDDLETopStories

This guy, who is partially responsible for the shenanigans in the housing market, and therefore the economy as a whole...



...Angelo Mozillo, is in talks with the goddamned SEC, who allowed Bernie Madoff to make off with millions of other people's money, to make a deal to settle for wrecking the lives of millions of people and the entire global fucking financial system. A FINE! Then Mozilo and his band of henchmen/women will be able to skip merrily off into the sunset, materially rich and pockets bursting at the seems with cash.

We live in a lawless society.

That is usless you're middle class or poor! Then you WILL follow the law! OR ELSE! You damn dirty peasants!

HEY SEC...FUCK YOU!

[Catherina]

1. Institutionaliozed corruption n/t

[Liberal_in_LA]

12. +1000

[HughBeaumont]

2. K & R. SEC = Securing Ease for Criminals.

Thumbs up their asses while jerks like this guy and Bernie Madoff ran the tables that all of us will be paying for the rest of our lives.

[lonestarnot]

29. No Securing Ecstasy for Criminals.

[Jackpine Radical]

38. Skipping Enforcement for Capitalists.

[lonestarnot]

54. Not all capitalists are criminals.

[RandomThoughts]

3. They are afraid to hold someone responsible for what they did when following wrong thoughts.

They claim it is lack of free will, and from that no guilt for them, since they claim they were 'controlled' following an ideology, and not knowing the bigger picture.

I have also proven a person can choose what he follows, and what thoughts he thinks is best, so the excuse of no free will, or that a person had to follow some voice, including the one that led to that disaster, is shown not correct.

If it is possible to skip between streams, then a person can not be said not responsible because they choose a stream to help themselves and hurt others.

In truth, those that do not prosecute those people are part of the same stream that skimmed off pension funds for years, and crashed the economy for profit and bonuses. And are scared to challenge that stream, and find a stream they want to be part of, if they feel trapped. Although some do like that stream, although they know not where it leads.

[xchrom]

4. I think it Charles leafing that first let us know everything had changed

About who the Law was for and who it was not.

These examples are punctuation to the statement.

[Jackpine Radical]

39. leafing = Keating?

If not, who is leafing?

[blondeatlast]

5. Only one way to deal with these sociopathic bastards--hard time.

Stick 'em in with the nurderers, rapists, and armed thieves. It's long fucking past time.

[MedicalAdmin]

48. And I would ad...

... let said murderers, rapists, and thieves ... not to mention the gangs ... know that these assholes are directly responsible for their grandmother losing her house and savings.

Heck - I'd shell out money for a pay per view of that and I don't even own a TV.

[RKP5637]

6. Too good for jail, not a criminal (ha), one of the players, got to go free. Pay a fine

and proceed, yep, "skip merrily off into the sunset, materially rich and pockets bursting at the seems with cash."

Let one of us get caught stealing a bit of food for survival, and we would be doing hard time. How many more indications do the masses need to realize we are or have become a fascist country. Yet teabaggers will vote for those who will do them the most injustice.

I just voted, no politician is perfect, but many are a hell of a lot better than others. I voted all dems, of course, as always.

[SoCalDem]

7. a fine to be paid for with SWINDLED money

But then if you are rich enough, your money is sacred, no matter how you get it:puke:

[metapunditedgy]

8. It's "business as usual" until these folks are in jail. No change. n/t

[Hannah Bell]

9. If the ruling class won't enforce the laws on its own, that gives the peasants leave to

ignore the laws as well.

[Greyhound]

17. They never seem to get that part. n/t

:kick: & R

[Hannah Bell]

20. the rot comes from the top. when no one believes the law is fair, everyone stops obeying it.

thus we get banana-republic-type countries where, e.g., everyone has to pay someone off to get anything done.

[Subdivisions]

21. It's all a part of our path to becoming a third-world country. n/t

[Scuba]

10. But Holder is going to prosecute...

...pot smokers in California. WTF????

[RKP5637]

15. Yeah, they go after the little people, they give them less trouble, have no "big" money and

no powerful contacts. The little people are easy to mow over, then look good on fighting drugs or whatever. This is a sick F'en country in many ways.

[izzybeans]

11. Ugh.

Not good. Double standard for the bankers.

[Dawson Leery]

13. Law Enforcement: legal prostitutes for the powerful!

[Individualist]

14. K&R

[Luciferous]

16. K&R

[TBF]

18. More orange skin - what is it about these guys?

Maybe the Pinocchio story was wrong. Noses don't grow when you lie, but your skin may turn orange.

[nashville_brook]

19. k and r

[defendandprotect]

22. Good thing Mozillo wasn't caught smoking pot --- !!!! Now there's a real crime .... !!!! Ugh!!!

:evilgrin:

[stuntcat]

26. +1

.

[Enthusiast]

42. Plus one!

Yup, zactly.

[SlipperySlope]

23. Don't worry, Bank of America will pay his fine for him, and then the Fed will pay the bank.

I shit you not. This is exactly how it will shake out.

[defendandprotect]

34. +1 --

[Enthusiast]

43. I don't doubt it for a minute...nt

[Turborama]

24. K&R & An off topic question...

How did you create a red box with a pink background? That's the 1st time I've seen one on DU and am curious.

[geckosfeet]

31. right click and check the html - css w red border and pink background

oddly enough, it works

on edit: get Firefox and use one of the developer plug-ins like Firebug to easily view the html and css. Or just use Chrome and the embedded developer tools.

[Subdivisions]

51. It's inline CSS. Instead of putting

class="excerpt" I put style="border: 5px solid #FF1D1D; background: #FFEBEB; padding: 20px; margin: 0 20 0 20;" after the DIV tag.

You can change the border width by chaning the the 5px to 1px or 2px or whatever. You can change the border color and background be changing the HEX values - that's the code after the # above.

Hope this helps.

[The Uncola]

25. YES WE CAN!

Give a pass to our corporate owners, no matter how criminal they are....


... 'cuz if we don't...

President Palin!

[QC]

27. CHANGETASTIC! n/t

[femrap]

28. Plus most of this crap

about the Banksters halting their foreclosure processes is total BS.

Take a look at Roubini's 360 for this week which has a number of articles on it. Yves Smith in particular from Naked Capitalism is included in Roubini's weekly letter.

[DirkGently]

30. Silly rabbit. Jail time is for poor people.

[WillyT]

32. HUGE K & R !!!

:mad::nuke::mad:

:kick:

[bvar22]

But hey, they caught that criminal Martha Stewart,

and threw her ass in JAIL!!!
That ought to show you that they mean business!!!

[Enthusiast]

45. I thought the same.

But Martha Stewart is a Democrat.

[bvar22]

52. So is former Democratic Governor Don Seigleman.

http://www.donsiegelman.org/Pages/press_09/Oct_15_09.html

but Top of Holder's list after assuming power was to release Republican Ted Stevens.

Makes you wonder.

[laylah]

33. Mazillo was

CountryWide...CountryWide screwed me every way but up. BOA has now taken the throne.

I echo your sentiments, Subdivisions.

Jenn

[Name removed]

35. Deleted message

Message removed by moderator. Click here to review the message board rules.

[RagAss]

36. That's one ugly fucker !

[matt819]

37. You know, I kind of hope the republicans win

I'm not going to bash Obama. There's not a chance in hell I would vote for a republican, so whoever's dem has my vote.

And, as another caveat, deep down I think the political masturbation that takes place at 538 and similar sites is, frankly, about as productive as masturbation. It makes the masturbator feel pretty good, but it's kind of pointless for everyone else. On balance, I think we're going to be in the same situation after the elections. Dems will retain their majority, or we'll be closer to 50-50, and absolutely nothing will change. Legislation will be stalemated, etc.

All of that said, I sometimes (often) feel as I felt in 2008, that I kind of hope that the republicans will win - presidency, house, senate, etc. They will, collectively, destroy this country, and even the RW extremists will see that. We will return to being a laughingstock in the world, as we were from 2000-2008. Our place on the major indices - income, education, employment, health care, justice, etc. - will further decline. Cities and towns will go bankrupt, schools will close, even more jobs will be lost. I can't begin to imagine the pain they will cause, but it will be ugly, but, eventually, they will be seen for what they are, and maybe, just maybe, in 2016 or 2020, we can begin to rebuild.

[Enthusiast]

47. And as long

as Democrats remain in power the main focus in the media will be how it is all the Democrat's fault. You know, for everything wrong.

[matt819]

53. It sucks

In any case, whatever the outcome, we'll be in stalemate mode. Does Nero fiddling while Rome burns sound familiar. Someone here in the past couple of days used the boiling frog analogy. Let's not kid ourselves. We're there now. It is damn near too late to do anything useful on global climate change. While we've been fighting unnecessary wars, the Chinese have been making deals. While we watched millions upon millions of jobs leave the US, US corporations have become so global that they could give a damn what happens in the US as long as their shareholders - worldwide - are satisfied. The middle class in India is the same size as the entire population in the US. I suspect that China is approaching that. That's more than enough people to buy iPads and Windows 8 and dishwashers and North Face jackets, and, heck, the shipping costs are lower than shipping to the US. Just ship us the crap no one else wants, and we'll pick it up at Walmart. Talk about third world.

[Enthusiast]

55. The boiling frog analogy

is exactly right. The water is simmering right now while millions of Americans and media place our focus on the idiotic Tea Party and football. Nothing to see here. These powers also appear to have their sights set on the Democracies of Europe. Every government seems to be moving to the right. There will be push back and violence for certain.

[asdjrocky]

40. And people are in prison for cannabis use.

Crime alone doesn't pay, the crime has to be really, really big for the real payoff.

[Enthusiast]

41. K&R!!!

Perfect!

[Alcibiades]

44. Apparently there has been a settlement: $67,500,000

Sounds like a lot, doesn't it? But:

"But $25 million of Mozilo's restitution will come from an escrow fund the company set up to cover shareholder litigation and Mozilo has no obligation to pay the remaining amount, according to the settlement agreement."

http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2010/10/15/financial/f112321D75.DTL

On EDIT: Also, no jail time, of course, and no admission of wrongdoing. THIS IS NOT CHANGE I CAN BELIEVE IN!

[Subdivisions]

49. SCOTT FUCKING FREE!!! ARRRRGGHHHHH!

IS THERE EVER, EVER!, GOING TO BE ANY JUSTICE FOR ROBBER BARRONS???

[MedicalAdmin]

50. When the justice system doesn't work?

Is it time for justice, mafia style?

[Tsiyu]

56. Cheer up!

At least Holder is going to go after cannabis users with the Full Force of the Law!

Priorities, Man!

[Raoul]

46. Keerist

he looks like a friggin crook doesn't he? And nothing surprises me about how they cozy up to rich crooks, nothing.

[divvy]

57. REPUBLICAN BASTARDS !