S.E.C. Accuses Countrywide's Ex-Chief of Fraud

S.E.C. Accuses Countrywide's Ex-Chief of Fraud

www.nytimes.com

WASHINGTON -- The government is charging Angelo R. Mozilo, the former chief executive of the mortgage lender Countrywide Financial, and two other company executives with civil fraud.

The Securities and Exchange Commission said Thursday afternoon that its case also accused Mr. Mozilo of illegal insider trading.

(visit the link for the full news article)

Let's classify this piece of news under "Duh! Ya think?"

We have witnessed the single largest systematic financial fraud perpetrated in history. Too bad they only see fit to name those who they don't care to protect.

The Supranational Bank Cartel represented in America by the Federal Reserve could have revealed this tid-bit months ago. But then, they wouldn't have time to do the book-cooking necessary to avoid criminal conspiracy charges.

I hope people are paying attention. These people aren;t done looting the nation yet.... but they are getting closer - with the help of the political party.

www.nytimes.com
(visit the link for the full news article)

One word post..... FINALLY

How were so many of those loans made where there was no way that the people could ever pay the loan back?

Personally, I think that those few are just the tip of an ice berg. I think that any loan officers who helped make these loans should be prosecuted.

really not much else to say about this. they're all corrupt, they're all responsible for the mess we're in.

I can't help but wonder..., who is investigating the S.E.C.?

I recall their tap dancing around during the congressional inquiry, mostly indicating that they have no teeth, nor any real interest in pursuing anything other than "considering the option of looking into the possibility of reviewing the process of determining if they can investigate a theoretical issue that could potentially require their possible mandate to consider thinking about ... stuff".

Just for the sake of malicious glee, I wonder which is the pot and which is the kettle?

[edit on 4-6-2009 by Maxmars]